The Insurance Federation of Egypt (IFE) has launched two new types of insurance policies -- for irrigated crops and informal workers.
The insurance industry in the Philippines raked in a net income of PHP22.4bn ($393.5m) in the second quarter of 2023, 4.23% higher than in the corresponding period in 2022, according to data released by the Insurance Commission (IC).
The Insurance Federation of Egypt (IFE) has developed a strategy to help low-income groups access insurance services by introducing new products that meet their needs, according to its chairman, Mr Alaa El-Zoheiry.
The Bima "Trinity", comprising Bima Sugam, Bima Vahak and Bima Bima Vistaar, will be a reality soon, IRDAI chairman Debasish Panda has said.
Takaful players are lobbying for the adoption of takaful as a platform for financial inclusion and for collaboration on regulations to foster the growth of Islamic insurance in Africa.
The Nigerian Council of Registered Insurance Brokers (NCRIB) has initiated moves to expand brokers' retail business, by engaging operators in takaful and microinsurance.
The number of microinsurance products has increased in Kenya in the past seven years from 32 in 2015 to 55, according to the findings of a survey by the Association of Kenya Insurers (AKI).
Santam, South Africa's largest short-term insurer, has launched South Africa's first-ever digital insurance solution for micro township enterprises, providing these businesses with financial security and recovery in the event of a loss.
Uganda's insurance sector recorded a year of strong growth of 20.4% in 2022 compared to 10.61% in 2021, the Insurance Regulatory Authority of Uganda (IRA) has said in a statement.
Savings and credit cooperative societies (SACCOS) present a good potential avenue for the majority of the population to access various products and services such as insurance, especially those at the bottom of the economic pyramid, says Bank of Uganda deputy governor, Michael Atingi-Ego.