Continental Reinsurance Plc, a pan-African reinsurance company and the largest private reinsurance player outside of South Africa, is celebrating the success of its strategic growth plans to establish fully licensed subsidiaries across the African continent. Lawrence Nazare, executive director of Continental Reinsurance, explains that the establishment of the subsidiary in […]
Insurance
African Risk Capacity (ARC) gets $150m in support from COP21 countries
The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is set to receive $150 million in support pledged by countries attending the Paris COP21 climate change talks over the last fortnight. The African Risk Capacity (ARC) has received a significant amount of coverage and support over the last […]
How Hollard is leveraging retailers and telcos to sell insurance in Africa
South African-owned short term and life insurer, Hollard Insurance Group, was established in 1980, and has since expanded its operations to other markets – including China, Australia, Zambia, Botswana, Namibia, Mozambique and Ghana. The company has an annual turnover of more than R15bn (about $1bn), which it has grown with […]
China issues guidance for internal control of insurance funds
China’s insurance regulator on Tuesday issued a guidance for internal control of insurance funds partly to raise the sector’s risk management capability. The China Insurance Regulatory Commission (CIRC) said in a statement on its website that the guidance will improve internal control for the use of insurance funds, enhance the […]
Lloyd’s of London to launch insurance-based index
By Sarah Veysey Lloyd’s of London will launch an insurance-based index in mid-2016, the market announced Wednesday. Lloyd’s said in a statement that the index would give managing agents, brokers and other insurers “new options for managing risk and form the basis of index-related products of interest to the wider […]
Fitch Downgrades 2 South African Insurance Groups’ IFS Ratings
(The following statement was released by the rating agency) Link to Fitch Ratings’ Report: South Africa Insurance Review (Six Groups) – Rating Action Report here LONDON, December 14 (Fitch) Fitch Ratings has completed a review covering six insurance groups within South Africa focused exclusively on the impact of Fitch’s downgrade […]
159 professionals join insurance workforce
From left: Immediate Past President, Chartered Insurance Institute of Nigeria(CIIN), Past Mr. Bola Temowo; President, CIIN, Lady Isioma Chukwuma and Deputy President, CIIN, Mrs. Funmi Babington-Ashaye at the 2015 Graduation Ceremony of the institute in Ikeja, Lagos. Leave a comment Chuks Udo Okonta The Chartered Insurance Institute of Nigeria (CIIN) […]
Analyst advises NAICOM to reduce licence requirements for brokers
An Insurance analyst, Mr Muftau Oyegunle, on Sunday advised the National Insurance Commission (NAICOM) to reduce licence renewal requirements for insurance brokers. Oyegunle, who made this call in an interview with the News Agency of Nigeria (NAN) in Lagos, urged the commission to consider two to three years documentation requirements […]
FBNInsurance fetes her stakeholders at 5
When FBNInsurance rolled out the drums on Friday, 4th December 2015, in celebration of her 5 years of operations, it was clear from all indications that the foremost insurance company had many reasons to celebrate. The company currently ranked 5th in the Life Insurance business had a healthy premium income […]
Insurers move to implement resolutions from mega confab
Ahmed Leave a comment Chuks Udo Okonta The Director Generals and Executive Secretaries of the various arms of the insurance industry have been mandated to ensure full implementation of resolutions reached at the Insurance Mega Conference, Inspen can report. It was gathered that the directors and secretaries were constituted into […]
