Category: Governance
Insurance regulators look to have common international standard in place soon
The International Association of Insurance Supervisors (IAIS) has published its 2024 Roadmap, marking the culmination of a 13-year journey for the glo [...]
East African regulators join hands to grow cross-border insurance business
Low insurance penetration rates, obscure and complex products and the high cost of doing business are common obstacles that African insurance stakehol [...]
Global reinsurance industry looking strong for 2024, says AM Best
The global reinsurance industry demonstrated a significant recovery of prior-year capital losses in 2023, driven by strong technical results, unrealiz [...]
ICEA Lion Group CEO elected as vice-chair to UN PSI board
ICEA Lion Group CEO Philip Lopokoiyit has been officially elected as the vice-chair of the board of UN Environment Programme’s Principles for Sustaina [...]
IAIS publishes paper on policyholder protection schemes
The International Association of Insurance Supervisors (IAIS) has published an issues paper on the roles and functioning of policyholder protection sc [...]
Nigerian insurance sector tops N2.8trn, Q3 2023
The National Insurance Commission (NAICOM) says the Nigerian insurance sector achieved a total market size of N2.8trn in the third quarter of 2023.
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Eyes on Kenya insurers’ capital as regulator cancels two licences
The insurance regulator in Kenya has cancelled the licences of two insurers in one week over mounting defaults on claims payment, shining the spotligh [...]
ASR receives in principle approval for Lloyd’s syndicate
Africa Specialty Risks (ASR), the pan-African-focused (re)insurance group, has received Lloyd’s Council ‘in-principle’ approval to launch a Lloyd’s sy [...]
AM Best affirms Continental Re’s financial strength rating at B+
Continental Re’s (CRe) financial strength rating of B+ (Good) and the long-term issuer credit rating of “bbb-” (Good) from AM Best has been affirmed. [...]
Moody’s life insurance sector 2024 outlook stable
Rating agency Moody’s outlook for the global life insurance sector is stable, unchanged from last year. Life insurers in most regions continue to bene [...]