Group Managing Director, WAICA Re, Abiola Ekundayo Leave a comment and share Chuks Udo Okonta AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” to WAICA Reinsurance Corporation PLC (WAICA Re) (Sierra Leone). The outlook assigned to these Credit Ratings […]
Insurance
COVID-19: Insurance Industry Must Provide Financial Stability – Rev. Okosun
Reverend Okosun Reverend Kennedy Okosun, the Chief Executive Officer (CEO) of Krif Ghana Limited, has said a well-developed insurance industry is key in efforts to improve the stability of the financial markets. He said the insurance sector must offer packages that would protect individuals and businesses from losses, especially in […]
WAICA Re posts $70m gross written premium in 2019
Ekundayo Leave a comment and share Chuks Udo Okonta WAICA Reinsurance Corporation (WAICA Re) closed its 2019 financial year with a Gross Written Premium (GWP) of $70 million, which represents 21 per cent of growth compared to 2018 figures. The reinsurance firm also achieved a profitability of $9.5 million, which […]
Insurer AXA says made investment portfolios greener in 2019
LONDON (Reuters) – French insurer AXA (AXAF.PA) said it reduced the temperature score of its investments in 2019, bringing them closer to alignment with the targets of the Paris Agreement on climate change. The so-called “warming potential” of its investments, a measure of their contribution to climate change, had fallen […]
Texas auto insurers sitting on windfall of up to $869m
By Amir Sadiq With COVID-19 driving down automobile activity, auto insurers in Texas could reap a windfall estimated between $606m and $869m, according to non-profit organisation Texas Appleseed (Appleseed). The organisation’s research has found that since March, weekly accidents in Texas declined by an average of 43%. However, about a […]
Why tier based recapitalisation model failed – Past NIA Chairman
Smart. Leave a comment and share Chuks Udo Okonta The Tier based capital introduced by the National Insurance Commission (NAICOM) was no doubt a very good model, but it failed because of the way the model was implemented, the past Chairman, Nigerian Insurers Association (NIA), Tope Smart has said. He […]
Facebook: Aviva and Intercontinental Hotels Group pause ads
Aviva Facebook and Holiday Inn brandsImage copyrightGETTY IMAGES By Jane Wakefield Technology reporter Two leading UK firms – the insurer Aviva and the Intercontinental Hotels Group (IHG) – have become the latest to “pause” advertising on Facebook. They join Ford, Adidas, HP, Coca Cola, Unilever and Starbucks, which have all […]
Big South African Insurers face $232m in claims from 500 Virus-hit firm
By Reuters JOHANNESBURG — Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million), the firm representing the businesses has calculated. Loss adjustment firm Insurance Claims Africa (ICA) is pushing a host of big South […]
Reinsurance renewals realities during a pandemic
By Amir Sadiq While insurers were able to secure sufficient reinsurance capacity at the 1 June and 1 July renewals supported by adequate reinsurance capital, the shadow of unrealised COVID-19 losses continues to loom over the industry, with the global reinsurance market exercising more caution in these unprecedented times. The […]
Lloyd’s introduces new solutions to accelerate COVID-19 recovery
Lloyd’s has unveiled a number of ways the insurance industry could fast-track global economic and societal recovery from the impacts of COVID-19. These include three open source frameworks namely ReStart, Recover Re and Black Swan Re. They are freely available for application around the world, two of which require government […]
