Several Tanzanian insurance companies recently established a consortium for insuring large and valuable projects in the country to reduce reliance on foreign insurance companies, revealed Commissioner of Insurance, Dr Baghayo Saqware.
Markel, the global specialty insurer that is part of New York-listed Markel Group, has announced that it will open three new offices in Australia this month.
Lloyd's, the world's leading marketplace for insurance and reinsurance, yesterday announced a strong set of results for the first six months of 2023, with a profit before tax of GBP3.9bn ($4.9bn), which was a turnaround from a loss of GBP1.8bn in 1H2022.
Insurance companies in Senegal have set up an "Oil & Gas Risks Insurance Pool" to unify their underwriting capacity in this specialty field and also to improve their negotiating power with the international reinsurance market.
Lloyd's of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, according to a Reuters report quoting industry sources with knowledge of the matter.
The National Insurance Commission (NAICOM), the Nigerian Content Development Monitoring Board (NCDMB), Centre for Promotion of Private Enterprises (CPPE), oil and gas industry operators and insurance stakeholders have agreed to boost local insurance particularly in the oil and gas sector.
Kidnapping for ransom and extortion is on the rise in South Africa, and syndicates are no longer just targeting high-profile or wealthy individuals, according to data from the South African Police Service (SAPS).
The oil & gas insurance branch continued to contribute the biggest share to total non-life gross premiums in the first quarter of this year, according to the National Insurance Commission (NAICOM).
Giant automaker Nissan Motor's captive insurance subsidiary Nissan Global Reinsurance (NGRe) shows an adequate operating performance that reflects its profitable results through the last decade, notes AM Best.
The still continuing global shortage of semiconductors is perhaps the biggest supply chain risk of 2023 according to a new report by the insurer QBE. This problem sprouted after supply couldn't meet with demand during the pandemic.