The microinsurance market needs four to five years to achieve the desired results and generate profits, according to Africa Regional Coordinator of the Microinsurance Network, Ms Karimi Nthiga.
Pan-African insurance group, SUNU Group, and the international microfinance group Advans have announced that SUNU Assurances Vie Cameroun has acquired a stake in Advans Cameroun.
More than six in 10 (61%) of insurance CEOS who attended the 10th Continental Reinsurance CEO Summit in Cape Town were open to using AI in underwriting, according to a real-time poll carried out at the conference.
Dubai-based EIRS (ETG Insurance Risk Solutions) Network has announced that Epicure Insurance Brokers, a leading licensed insurance broker based in Lagos, has joined as its exclusive member in Nigeria.
Africa Reinsurance Corporation (Africa Re), the leading African reinsurer, has reported a record profit for the second consecutive financial year in 2024 which amounted to $132.36m compared with $128.45m in 2023, translating into an increase of 3.05%, a demonstration of its resilience.
Côte d'Ivoire collected FCFA594.8bn ($1.03bn) in insurance premiums in 2023, compared to Cameroon's FCFA270.6bn and Senegal's FCFA268.6bn,according to the latest available figures from the Federation of African National Insurance Companies (FANAF).
Global broking business, Brokerslink, has added brokers from Mauritania and the Ivory Coast to its network. The two new additions bolster its network which has broking partners and affiliates in 41 countries across the African continent.
African Export-Import Bank (Afreximbank) and Nairobi-headquartered ZEP-RE (PTA Reinsurance Company) has launched the Trans-Africa Bond Alliance (TABA), a transformative initiative designed to bridge the insurance capacity gap and empower African contractors to secure more construction and procurement projects while boosting cross-border trade and enhancing the movement of goods and investment across Africa.
Tunisia has joined the African Trade & Investment Development Insurance (ATIDI) and will participate in its capital, under the terms of an agreement inked on 24 March 2025 between the Tunisian Economy and Planning Ministry and ATIDI.
ETG Insurance & Risk Solutions (EIRS), an international multi-specialist insurance and reinsurance broker, has teamed up with AU Group, the leading Paris-headquartered trade credit and political risk insurance broker, to introduce Africa's first dedicated broking platform for trade credit and political risk insurance.