Kenya's biggest publicly traded insurer by market value is planning an expansion in African nations, where the insurance penetration rate is low, to augment and diversify revenue.
Nippon Export and Investment Insurance (NEXI) has sealed its first-ever reinsurance agreement with an African export credit agency (ECA).
The African Trade & Investment Development Insurance (ATIDI) has issued a 10-year Political Risk Insurance (PRI) policy to Sumitomo Corporation, a key Japanese partner in a consortium that invests in Safaricom Telecommunications Ethiopia (STE).
African Reinsurance Corporation (Africa Re) has reported strong financial results for the first half of 2025, underpinned by continued growth in premium income, resilient underwriting performance, and a solid investment return-despite ongoing geopolitical and macroeconomic headwinds.
Yaoundé-headquartered Afrigroup Holding has clinched the approval of the Inter-African Conference on Insurance Markets (CIMA) to establish two insurance companies, one each in the life business and the non-life sector.
Sierra Leone-headquartered WAICA Reinsurance Corporation's (WAICA Re) prospective earnings are expected to remain strong, underpinned by robust technical performance and positive, albeit modest investment returns, reflecting the low-yielding assets in which the company primarily invests, says AM Best.
As multinational corporations scale their presence across multiple markets on the continent and their operational needs, particularly around risk management and insurance, are becoming more complex and demanding.
Moody's Ratings (Moody's) has changed the outlook on its 'Baa1' insurance financial strength rating (IFSR) for ASR Re to 'Positive' from 'Stable', with the group expecting its ratings to be upgraded shortly.
The Brown Family has announced the full acquisition of Prudential Plc's operations in Francophone Africa. These operations, previously a joint venture between Prudential and the the pan-African group Beneficial, now operate under the new identity: Belife Insurance.
Singapore-headquartered InsurTech EFGH (Embed Financial Group Holdings) has made significant strides in expanding its presence in Africa over the past two months, establishing legal entities in the Democratic Republic of the Congo (DRC), Zambia, and Ghana.