The eastern DRC (Democratic Republic of the Congo) and Ivory Coast face a greater risk of political instability this year, according to Pangea-Risk, a specialist intelligence advisory firm.
The withdrawal of Niger, Mali and Burkina Faso from the Economic Community of West African States (ECOWAS) is the latest sign of political turmoil in the region, but the direct impact on (re)insurance markets will be limited in the short term, according to a new commentary from AM Best.
Sub-Saharan Africa's (SSA) unique and diverse political and security landscapes contain an abundance of challenges for commercial organisations, including those in the mining sector, according to Alert:24, WTW's specialist security and crisis management advisory practice.
The president of the Moroccan Insurance Federation (FMA), Mr Mohammed Hassan Bensalah, has advocated the establishment of a single insurance market in Africa.
The Insurance Federation of Egypt (IFE) has said that insurance companies in the country will cooperate with regulatory authorities and technology companies to develop a clear legal and insurance framework that meets the needs of the insurance sector covering autonomous ships.
Lockton, the world's largest independent insurance broker continues to strengthen its regional presence with the appointment of Mr Fady Khawam as general manager heading Lockton MENA's reinsurance strategy in North Africa.
The West African Development Bank (BOAD) and Africa Specialty Risks (ASR) have signed an agreement to carry out a feasibility study on the establishment of a captive insurance company.
Experts meeting in Casablanca earlier this month called for regulatory convergence to strengthen the African insurance market, particularly within the framework of the African Continental Free Trade Area (AfCFTA).
The next big transformation in Africa's insurance industry will likely be driven by digitalisation, product innovation, and financial inclusion, according to Mr Emmanuel Mokobi, the CEO of Prudential Africa.
Optimus Assurances, which lays claim to being the first Ivorian insurance brokerage company to specialise serving small and medium-sized enterprises, has formed a strategic partnership with Casablanca-headquartered African Reinsurance Brokers (ARB), a leader in reinsurance and insurance in Morocco.