Reinsurance News

Your search for “africa”

Brokerslink appoints François Masson as new Regional Manager for Africa

19th July 2023

Brokerslink has announced the appointment of François Masson as the new Regional Manager for Africa. Masson succeeds Benjamin Boudeau-Raimbault of Filhet-Allard Africa, who has completed his two-year tenure in the role. According to Brokerslink, Boudeau-Raimbault will continue to provide technical support across the continent on behalf of the firm. José Manuel Fonseca, Brokerslink’s ... Read the full article

Chubb promotes Zelda Mostert to Country President for South Africa

30th June 2023

Global re/insurer Chubb announced the promotion of Zelda Mostert to the position of Country President for South Africa. Mostert, currently serving as Chief Financial Officer for the region, will take on the new role with effect from July 1. As Country President, Mostert will assume responsibility for managing the performance, strategy, and ... Read the full article

Afreximbank launches intra-Africa trade supporting insurance subsidiary

28th June 2023

The African Export-Import Bank today in Accra launched its wholly-owned insurance management services subsidiary, AFREXInsure, which took place on the sidelines of Afreximbank’s 30th Anniversary Annual Meetings. The launch comes with a commitment to provide a single-entry point for all specialty insurance needs to assist in optimally managing related risks for ... Read the full article

ARC launches parametric flood product in Africa

19th June 2023

The African Risk Capacity (ARC) Group has launched a parametric insurance product aimed to help African countries cope with the devastating effects of flooding. This mechanism will provide countries with predictable and rapid financing for early response to cope with emergency disaster events caused by floods. ARC partnered with JBA Risk Management ... Read the full article

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