Category: Governance
Insurance supervisors must act on natcat risks, says IAIS
Natural catastrophe (NatCat) protection gaps – the uninsured portion of economic losses caused by natural disasters – matter for insurance supervisors [...]
NAICOM unveils 10-year plan; seven focal points to drive insurance growth
The National Insurance Commission (NAICOM) has unveiled a 10-year transformation plan for the insurance industry in Nigeria, emphasising seven core st [...]
Ugandan regulator focuses on the benefits of commercial insurance
The Uganda Insurers Association (UIA) aims to continue engaging the broader business community on the relevance of insurance in successful business op [...]
Egypt launches its first actuarial tables for life market
The Egyptian Financial Regulatory Authority (FRA) has developed and launched the first Egyptian actuarial tables for the life insurance market.
It [...]
Ugandan insurance sector customers dissatisfied with claim settlement, survey finds
A new survey conducted by the regulator of Uganda’s insurance sector on the levels of customer satisfaction in the industry has revealed dissatisfacti [...]
Africa Specialty Risks Re gains Baa1 rating from Moody’s
Africa Specialty Risks Re (ASR Re), the pan-African focused reinsurance group, has been assigned a Baa1 long-term insurance financial strength rating [...]
Tan Re receives B rating from AM Best
AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” (Fair) to TAN RE. The outlook assigned to t [...]
African insurance premiums dropped 2.6% in 2022, reports AIO
In 2022, African economies faced new obstacles in an unpredictable global risk landscape. Real GDP grew by 3.8%, down from 4.8% in 2021, [...]
NAICOM: Nigerian insurers paid over N550bn claims in H1 2023
Olorundare Thomas, the Commissioner for Insurance and CEO of the National Insurance Commission (NAICOM), says the Nigerian market paid over N550bn in [...]
Implementation of Uganda’s local marine cargo insurance to start in October 2023
From October 2023, Uganda’s Insurance Regulatory Authority (IRA) will compel importers to buy marine cargo insurance from local providers. The IRA has [...]