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Untapped potential in Africa’s agricultural insurance market: Faber
2nd June 2023
Africa’s agricultural insurance market has a large untapped potential for non-life insurers due to its low penetration and it is key to advancing food production security in the continent, according to the latest edition of the Africa Insurance Pulse on food security and agricultural insurance. The global agricultural insurance market has ... Read the full article
Swiss Re CorSo names Head UK, Ireland, South Africa and EMEA Wholesale
10th May 2023
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has announced the appointment of Adrian Hall as Head UK, Ireland, South Africa and EMEA Wholesale. Hall, who is currently Head Canada at Swiss Re Corporate Solutions, will take over the role from Melanie Slack as of September 1st ... Read the full article
Creditworthiness of African institutions likely to be pressured throughout 2023: AM Best
10th May 2023
According to a new report from AM Best, reinsurers operating in Africa and other emerging markets are exposed to heightened levels of economic, political and financial system risks, and within recent years these risks have been “exacerbated” by external shocks, such as the Russia-Ukraine conflict and the COVID-19 pandemic. Best states ... Read the full article
South Africa’s New National partners with JBA for global flood data
27th April 2023
Specialist insurer New National Assurance has signed an annual agreement with flood risk modeller, JBA Risk Management (JBA), for the use of its flood data for South Africa. The data, which incorporates climate change intelligence, will be used by the insurer to underwrite property-risk for both personal and commercial lines. Additionally, ... Read the full article
African Risk Capacity pays out $188,000 to Gambia for drought recovery
21st April 2023
The African Risk Capacity (ARC) Group has announced a $188,000 insurance payout to the Government of the Republic of The Gambia to assist with recovery from drought. ARC explains that as drought conditions spread across West Africa’s Sahel region during the 2022/23 agricultural season, The Gambia was amongst the most affected. This ... Read the full article
African Risk Capacity selects Gallagher Re as reinsurance broker
13th April 2023
Global broking and advisory firm Gallagher Re has been selected as the reinsurance broker and risk advisor for African Risk Capacity Limited (ARC), the specialist insurance company which provides parametric insurance cover to African countries against climate and disaster events. The appointment includes the placement of portfolio cover in the reinsurance ... Read the full article
Howden Tiger hires Jani to lead treaty reinsurance team in Middle East, Africa & India
8th March 2023
Howden Tiger, the reinsurance arm of international re/insurance broker Howden, has appointed Minesh Jani to lead its Treaty Reinsurance team in the Middle East, Africa & India region. In the role, Jani will hold responsibility for growing Howden Tiger’s international platform within the Middle East, Africa & India, with a particular ... Read the full article
Aon appoints Nolwandle Mgoqi as CEO for South Africa
6th March 2023
Global professional services firm Aon has announced the appointment of Nolwandle Mgoqi as Chief Executive Officer (CEO) for South Africa, effective today. Before joining Aon, Mgoqi held various executive roles in the financial services sector, including most recently as Chief Executive of Standard Insurance Limited and as Head of Insurance for ... Read the full article
AIG names Nasr as Senior Property Underwriter, FAC Reinsurance, GCC & North Africa
1st March 2023
Global re/insurer AIG has appointed Rana Nasr as Senior Property Underwriter - FAC Reinsurance, GCC & North Africa. Nasr joins AIG from Active Capital Reinsurance, Ltd., where she served as regional representative & property underwriter. Prior to that role, she spent over three years working at Chedid Capital, a leading investment group ... Read the full article
Lloyd’s approves Africa Specialty Risks as coverholder
22nd February 2023
Africa Specialty Risks (ASR), a pan-African focused reinsurance group, has been approved as a coverholder at Lloyd’s, the specialist re/insurance market. This means that ASR will be able to work with Lloyd’s syndicates and manage delegated authorities for specialist lines of business commencing with Political Violence and Terorrism and leverage the ... Read the full article
Drought-affected West Africa to benefit from ARC insurance payout via WFP
17th February 2023
The United Nation’s World Food Programme (WFP) has received $15.4m worth of insurance payouts from African Risk Capacity (ARC) Limited to help 490,000 people in West Africa impacted by drought in 2022. The ARC was established in 2021, it is a provider of parametric disaster insurance products to countries and risk ... Read the full article
Africa Specialty Risks appoints Ciaran O’Donnell as CFO
7th February 2023
Pan-African focused re/insurance group Africa Specialty Risks (ASR) has announced the appointment of Ciaran O’Donnell as Chief Financial Officer following co-founder Bryan Howett's decision to step down from the role to pursue other opportunities. O’Donnell is an experienced CFO with extensive international financial and operational knowledge in the insurance industry, having ... Read the full article
Africa Specialty Risks appoints Sean Paradine as senior treaty underwriter
15th December 2022
Africa Specialty Risks (ASR) has appointed Sean Paradine to be its new senior treaty underwriter. Paradine, said the firm in a statement, joins from WR Berkley where he was a senior vice president focused on treaty underwriting in Sub-Saharan Africa. Before WR Berkley, Paradine spent over twenty years at Everest Re. Mikir ... Read the full article
ZEP-RE and Planet Labs partner on African drought program
13th December 2022
ZEP-RE, a reinsurance company based in Nairobi, Kenya, has partnered with data provider Planet Labs to expand its drought insurance program in the Horn of Africa (HOA) region. The reinsurer plans to leverage Planet’s Basemaps products to measure vegetation health for an area of more than 600,000 square kilometres of Eastern ... Read the full article
African Risk Capacity launches parametric insurance product
12th December 2022
The African Risk Capacity has launched its own parametric insurance product against high-impact epidemic risks. In a statement, the organisation said that Senegal was to be the first African country to join this new innovative financing mechanism. African Ministers of Finance in 2015 requested ARC to develop a product to meet countries' ... Read the full article
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