Cameroon's insurance market reached a new milestone in the 2024 financial year, achieving a total revenue (premiums written) of FCFA288.7bn ($519m), according to data released by the Ministry of Finance. This performance represents a 5.1% growth compared to 2023, when premium revenue was around FGFA274.6bn.
Ascoma, the international brokerage network of the Chedid Capital Group, and ESA-Ecole Supérieure d'Assurances Paris (Paris School of Insurance) have formalised a strategic partnership dedicated to training insurance executives in Africa.
Mr Mamadou Koné has been elected President of the Federation of African National Insurance Companies (FANAF) for a three-year term. Mr Aymeric Kamega, CEO of ACAM Vie in Cameroon, was elected Vice President.
Pan-African financial services group, Vista Group Holding, has completed the acquisition of 99.99% of Saham Assurances Niger for an undisclosed amount.
Independent brokerage CGRE has launched its aviation (re)insurance practice in Africa.
The Federation of African National Insurance Companies (FANAF) kicked off its 50th General Assembly on 9 February with a call to insurers to play a more active role in addressing emerging risks.
CGRE has announced that its new aviation (re)insurance practice will be headed by Mr Matt Gould as Head of Aviation.
The African insurance sector is demonstrably on a path towards greater sustainability, with significant progress being made by key players across the continent, according to the "Current State Report 2025".
African Risk Capacity (ARC) has launched Africa's first sovereign parametric flood insurance policy, marking a major innovation in climate risk financing and strengthening African countries' capacity to respond to the growing impacts of climate change.
Abidjan-headquartered insurance and banking group, NSIA Group, has received approval from the Regional Insurance Control Commission (CRCA) for the establishment of Manzi Re, its new captive reinsurance company.