Category: Governance
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 [...]
Global reinsurance sector capital adequacy remains sound, reports IAIS
The International Association of Insurance Supervisors (IAIS) reports that global insurance sector capital adequacy remains sound but has slightly dec [...]
Kenya’s insurance regulator puts inclusion, sustainability at the heart of its new strategy
Kenya’s insurance regulator has unveiled its draft strategic plan that puts inclusion and sustainability practices at the heart of its focus amid elev [...]
Insurance industry outlook in Zimbabwe amid economic and market trends
Zimbabwe's insurance market is expanding, but it is still lagging behind in several important areas, players were warned at the three-day Institute of [...]
Nigerian insurers target N1 trillion premium income as recapitalisation looms
Operators in the Nigerian insurance industry are targeting Gross Premium Income (GPI) of over N1 trillion by the end of the 2023 financial year accord [...]
Kenya’s insurance regulator pressured over underwriters’ capital adequacy test
Kenya’s insurance regulator is facing pressure from a consumers’ lobby group over allegations that it has allowed insurers with low capital levels to [...]