Category: Governance
Kenya’s insurers advise premium top-ups to reflect VAT on compensation
Underwriters in Kenya are advising customers to increase premiums if they have to enjoy the same level of sum assured they were entitled to prior to t [...]
Zimbabwe’s insurers face regulatory sanctions for delaying claims payment
The regulator of insurance and pensions business in Zimbabwe has directed all insurance companies to settle claims on time amid mounting complaints th [...]
Kenya insurance sector rising outstanding premiums tests insurers and intermediaries partnership
Kenya’s insurance sector outstanding premiums have crossed the KES50bn mark, putting a spotlight on insurers and intermediaries in the east African ma [...]
IFRS17 is key to insurance accounting and reporting, NAICOM seminar reports
The National Insurance Commission (NAICOM) in Nigeria says that IFRS17 is of utmost significance in the realm of insurance accounting and financial re [...]
Banking deal paves way for insurance to back Ivory Coast ESG plans
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the African Development Bank (AfDB) have signed a strategic risk [...]
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 [...]