Life insurance in Africa remains extraordinarily concentrated, with South Africa writing $43,786m in life gross written premiums in 2025, commanding 81% of the 23 markets ranked and almost 14 times the next largest, according to the African Insurance Organisation in its Annual Report 2026.
Africa's non-life insurance market is less concentrated than life, with six markets posting gross written premiums of over $1bn, against three in life, according to the African Insurance Organisation in its Annual Report 2026.
Nairobi-headquartered financial services group Jubilee and FSD Africa have partnered with seven InsurTech companies to develop affordable insurance solutions for underserved Kenyans, targeting small and medium-sized enterprises (SMEs), informal sector workers, farmers and low-income households that have limited access to formal insurance.
Reinsurers in sub-Saharan Africa (SSA) have reported another year of robust underwriting results, maintaining rate adequacy amid moderating market conditions according to a new AM Best report.
Cameroon-based insurer Royal Onyx Insurance (ROI) has officially launched its operations in Bangui, the capital and largest city of the Central African Republic, the insurer said in a statement posted on its Facebook account.
The Insurers Federation of Egypt (IFE) says that rapid developments in cross-border trade and transport on the African continent increases the need for insurance solutions that keep pace with the movement of trade and investments.
Asset broker Startrader Financial Markets (Mauritius) has raised the aggregate limit of its client fund insurance, underwritten by Arch and other Lloyd's of London syndicates, from $1m to $30m, effective 1 October 2026.
Santam Syndicate 1918, part of Santam Group, Africa's largest non-life insurer, has appointed Ms Hina Shavdia as COO.
Sierra Leone-headquartered WAICA Reinsurance Corporation's (WAICA Re) operating performance is strong, with the company reporting robust return-on-equity ratios in recent years that have significantly exceeded the benchmark interest rates in the markets where the reinsurer operates, says AM Best.
Turaco, a micro-insurance provider in Africa, has received an investment from Inclusive Insurance Investment Fund (3IF Ventures). This represents the venture capital fund's first investment, the details of which have not been disclosed.