Africa Specialty Risks (ASR), the pan-African focused (re)insurance group, has launched ASR Syndicate 2454 focused on underwriting business across Africa.
A common insurance market in West Africa will lead to important prospects as well as bring about cost savings, among other benefits to the population, according to Mr Mamadi Dampha, deputy permanent secretary at the Ministry of Finance and Economic Affairs.
Maksure Risk Solutions, an Afro-Global independent specialist insurance and reinsurance broker has been granted full Lloyd's Registered Broker Status.
Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from African Risk Capacity (ARC) as they are severely affected by the current drought, according to early projections from ARC's season monitoring tools.
Remittances from migrant workers and foreign direct investments (FDI) are transforming the insurance landscape, particularly in emerging economies, says the non-profit, non-governmental organisation African Centre for Economic Monitoring and Intelligence (CAVIE).
Africa-focused reinsurers are rising to the challenge of the increasingly evolving risk landscape, even as persistent high inflation and slowing economic growth weigh on the continent, says Munich Re.
East African Insurance supervisors unveiled a strategic plan on 4 April aimed at increasing insurance penetration in the region through a unified cross-border framework.
The insurance penetration rate remains notably low in the Inter-African Conference of Insurance Markets (CIMA) zone, an organisation of mostly French-speaking nations in sub-Saharan Africa that aims to harmonise insurance regulation in the region.
Finafrica, a pan-African provider of microfinance and insurance services and a subsidiary of the French group, Groupe Duval, has welcomed a strategic investor in Proparco which has acquired a 10% stake in the company.
Compagnie Commune de Réassurance des Etats Membres de la CIMA (CICA-RE) -- Common Reinsurance Company of CIMA Member States --has a track record of adequate operating performance, says AM Best.