Category: Governance
African Alliance woes raise issues of corporate governance, regulation
On October 30, 2024, the insurance regulator in Nigeria, National Insurance Commission (NAICOM), sacked the entire board and management of African All [...]
International regulatory group IAIS puts climate change at the top of its strategic themes for the next five years
Amid global trends expected to shape the insurance landscape for the next five years, the International Association of Insurance Supervisors (IAIS) ha [...]
How can Africa grow the insurance pot without an accumulation risk?
Educating politicians is as crucial as educating potential insureds, agreed a group of reinsurers and reinsurance brokers meeting at the African I [...]
Egyptian insurance market set for change, despite geopolitical challenges
One of the key challenges facing Egypt is the geopolitical issues across the Middle East and Africa, with the reinsurance markets inevitably impac [...]
Time for Africa insurance markets to embrace harmonisation
African insurers and reinsurers alike should be embracing harmonisation for the opportunities it will produce, rather than looking for the negative ch [...]
AM Best upgrades GIC Re to A-
AM Best has upgraded the financial strength rating to A- (excellent) from B++ (good) and the long-term issuer credit rating to “a-” (excellent) from “ [...]
GIG Egypt enjoys rating upgrade from AM Best
AM Best has upgraded the financial strength rating to A (Excellent) from B++ (Good) and the long-term issuer credit rating to “a” (excellent) from “bb [...]
GFIA warns Zambian government that changes to the insurance law will reduce foreign investment
The Global Federation of Insurance Associations (GFIA) has written to Zambia’s Finance Minister, raising concerns over the country’s Insurance Act No. [...]
ASR Ltd starts operating as a Lloyd’s service company
Africa Specialty Risks (ASR), the pan-African- and Middle East-focused (re)insurance group, has announced that Africa Specialty Risks Ltd (ASR Ltd), A [...]
Kenyan insurers face delicate balance between investment returns and freeing up money for claims payment
Insurers must be prudent when investing premiums so that the chase for a return does not stand in their way of settling customers’ claims. That is the [...]