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Africa tag returned 158 results

  • Africa: Parametric solutions seen as the future for agricultural insurance

    The insurance industry in Africa recorded a cumulative premium of about $300m from agricultural insurance in 2020. The Southern and Eastern regions of Africa contributed more than 80% of the recorded premium, according to a statement from Allianz Africa.

    Africa | 29 Mar 2021
  • Africa: Coface forecasts a rebound in GDP in sub-Sahara

    Africa has been relatively spared from COVID-19 in 2020 compared to other continents, but economically, the consequences have been dramatic. With an estimated global growth rate in 2020 of -3.8%, the decline in economic growth in sub-Saharan Africa is expected to translate into a decline in GDP of 3.3%, according to Mr Lionel Piquer, CEO of Coface Maghreb, West and Central Africa.

    Africa | 29 Mar 2021
  • Gabon: Reinsurer expands in Central and West African markets

    The Gabonese Commercial Reinsurance Company (SCG-Re) has undertaken business missions so far this year to Cameroon, Congo and the Democratic Republic of Congo, as part of the implementation of its five-year Strategic and Development Plan 2021-2025.

    Africa | 22 Mar 2021
  • Africa: Structured credit and political risk underwriters take cautious approach

    One of the challenges faced during 2020 in underwriting non-payment insurance was convincing Structured Credit and Political Risk (SCPR) insurers to accept new clients, says Mr Matthew Solley, managing director, Structured Credit and Political Risk, at Gallagher.

    Africa | 22 Feb 2021
  • Africa: COVID-19 reinforces value of insurance

    The COVID-19 pandemic has reinforced the value of insurance products among customers, Dr Matt Lilley, Africa CEO of the UK insurer Prudential, has said citing feedback from the insurer's agency force.

    Africa | 22 Feb 2021
  • Africa: MUA positioning itself as a regional insurance player

    MUA is working to position itself as an innovative and dynamic regional player, Mr Bertrand Casteres, CEO of Mauritius Union Assurance (MUA), has said. Today, it is further strengthening its presence in East Africa, as evidenced by its recent acquisition of Saham Kenya in 2020.

    Africa | 01 Feb 2021
  • Africa: Continent's biggest reinsurer expected to see premium recover this year

    Africa Re's premium income is expected to increase by about 5% annually over 2021-2022, mostly reflecting the economic recovery in most areas it operates, says S&P Global Ratings.

    Africa | 25 Jan 2021
  • Angola: Fitch finds insurance regulatory oversight to be weak

    Supervision of the insurance market in Angola is weak with poor compliance with regulations by local players, says Fitch Ratings in a recent report.

    Africa | 18 Jan 2021
  • Africa: Insurers urged to play a role in new continental free trade area

    The insurance sector in Africa can push for the inclusion of insurance particularly as the African Continental Free Trade Area (AfCFTA) has come into effect since 1 January 2021, according to Mr Ekerete Olawoye Gam-Ikon, a management consultant with a specialisation in strategy and insurance.

    Africa | 11 Jan 2021
  • Africa: Growth of insurance market delayed, not derailed

    The adverse effect of the COVID-19 pandemic on the insurance sector in Africa is expected to delay rather than alter the pattern and potential of future growth. And in some cases, the crisis may accelerate existing trends-notably the shift toward digital and remote channels, which has the potential to offer new opportunities to both insurers and consumers, says global consulting firm McKinsey.

    Africa | 11 Jan 2021