On Wednesday, the Kenyan government in partnership with six underwriters in the Crop insurance programme (CIP) released Sh117.5 million in compensation to 25,000 smallholder farmers in 28 countries for climate-related crop losses. The programme is aimed at revolutionizing how Kenyans practice farming. It involves local underwriters such as APA, Amaco, […]
Spotlight
Reinsurers’ COVID-19 bill triples as claims start to emerge
By Anoop Khanna Europe’s four biggest reinsurers racked up an additional EUR3.46bn ($4.1bn) of coronavirus claims and reserves between them in the second quarter, taking the total for the first half of the year to EUR4.9bn, according to S&P Global Market Intelligence. More claims are likely to come in amid […]
More US consumers shop for motor insurance despite COVID-19 challenges
By Ridwan Abbas Even with the ongoing economic impact of the COVID-19 pandemic, overall personal auto insurance shopping rates in the first half of 2020 surpassed 2019 levels. The 2020 Insurance Shopping Annual Report by TransUnion found overall shopping rates were higher year over year in the first few months […]
Anchor Insurance managing director loses father
Late Elder James Ebose Ogbole Leave a comment and share Chuks Udo Okonta The Managing Director/CEO, Anchor Insurance Company Limited, Ebose Augustine, has lost his father, Elder James Ebose Ogbole to the cold hand of death. Elder Ogbole took a bow on Wednesday morning at Irrua Specialist Hospital, Edo State, […]
ILS Retrocession Capacity Further Squeezed in the Pandemic Era
Leave a comment and share Although the losses from previous years’ catastrophe events and the resulting trapped capital have been problematic for the entire insurance-linked securities (ILS) market, the strain is most visible in the retrocession (retro) segment, where capacity has tightened and rates have spiked, according to a new […]
Legendary pioneer CFI, Chief Eugene Okwor is 80
Okwor Life is nothing but what mortals put into it! According to Frantz Fanon, in his book: “wretched of the earth”, “Any man wrapped in himself would only make a small package”. These wise sayings typify the generous life of one of Nigeria’s finest citizens and professionals, Chief Eugene Amechi […]
Cornerstone Insurance posts N13.05bn gross premium written
From left: Tokunbo Bello, Executive Director, Technical/Operations; Ganiyu Musa, Group Managing Director/CEO; Segun Adebanji, Chairman of the Board; Chidinma Onwubere, Company Secretary; Steven Iwenjora, Non-Executive Director; & Chidiebere Nwokeocha, Executive Director, Business Development all of Cornerstone Insurance PLC. at the 28th Annual General Meeting of the company held Wednesday in […]
Anchor Insurance boss implores media practitioners to sustain insurance awareness
Executive Director, Technical, Anchor Insurance, Adebisi Ikuomola Leave a comment and share Chuks Udo Okonta The Managing Director/Chief Executive Officer (CEO) Anchor Insurance Limited, Ebose Augustine has appealed to media practitioners to sustain the promotion of insurance awareness, which will help to deepen insurance penetration in the country. Ebose said […]
Over 80% of consumers cited positive claims experience during COVID-19 outbreak
By Ahmad Zaki Despite the spike in travel insurance claims during the initial COVID-19 outbreak in December 2019 to February 2020, over 80% of Singapore policyholders had a positive claims experience, revealed GoBear’s 2020 Singapore Travel Claims Survey. “Even when faced with an uptick in claims activity brought about by […]
S&P affirms Africa-Re rating with stable outlook
African Reinsurance Corporation African Reinsurance Corporation (Africa Re) Group Managing Director and Chief Executive Officer Corneille Karekezi. FILE PHOTO | NMG BY BRIAN NGUGI Global ratings agency Standard & Poor’s has affirmed the African Reinsurance Corporation (Africa Re) financial strength rating at A-, with a stable outlook. The Lagos-based Pan-African […]
