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Neema partners with ASR Re to launch reinsurance product for SMEs in Africa
8th June 2022
African specialist underwriting agency, Neema Insurance Managing Agency, in collaboration with ASR Re Limited, has launched a new Political Violence Terrorism reinsurance solution. This new product is aimed at African small and medium enterprises (SMEs). ASR Re will provide Neema with the capacity to underwrite SME business on their behalf in ... Read the full article
South African market open to political violence and terrorism cover
31st May 2022
A new note from Cameron Cupido, CEO of Reinsurance Solutions Intermediary Services, says that there is a huge gap in the market for insurers to bring in political violence and terrorism (PVT) cover. Cupido wrote that recent amendments from the South African Special Risks Insurance Association (SASRIA) means that insurers and ... Read the full article
Africa Specialty Risks energy division capacity increases to $38m
13th May 2022
Pan-African focused reinsurance group, Africa Specialty Risks (ASR) has announced that its energy division capacity has increased to $38 million. The reinsurer stated that the increase was provided through their ongoing relationship with GIC Re and Peak Re. The increase follows on from twelve months of profitable underwriting results for ASR’s portfolio ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
Africa Risk Capacity pays out $7.1m to help Malians
14th March 2022
A $7.1m payout from Africa Risk Capacity is to be used by the UN’s World Food Programme to help over 200,000 Malians currently suffering a food crisis following droughts and shortages. The payment, understood to be just the first, is reportedly part of an assurance mechanism to support the implementation of ... Read the full article
Gen Re names joint MDs of General Reinsurance Africa
19th January 2022
Cindy Blanchard and Jason Cooper-Williams have taken over as the new joint Managing Directors of General Reinsurance Africa Ltd, part of the Berkshire Hathaway family of companies, where they will lead the firm's life & health business in Southern Africa. Effective January 1st, 2022, the pair assumed the role from Peter ... Read the full article
COVID-19 a turning point for Africa’s insurance sector: AIO
10th December 2021
The aftermath of COVID-19 will be a turning point for the entire insurance sector in Africa, according to Tope Smart, who will assume the role of President of the African Insurance Organisation (AIO) next year. "This is because the insurance sector plays an important role in the economic development of the ... Read the full article
MNK Re hires Kruger to drive Africa business development
6th December 2021
MNK Re Limited, an independent broker of worldwide specialist risks into Lloyd’s, has announced the appointment of Lesley Kruger as its new Director of Business Development. Kruger brings to MNK Re 26 years’ experience within African markets, having recently been Chief Operating Officer of a South African-based risk management company. She will ... Read the full article
Guy Carpenter and Marsh to combine South Africa operations
23rd November 2021
Guy Carpenter and Marsh, both businesses of Marsh McLennan (MMC), have announced that they will combine their South Africa facultative reinsurance operations into a single business from January next year. The new unit will operate under the Guy Carpenter brand as it’s part of the company’s strategy to expand its presence ... Read the full article
Non-African reinsurers must adapt to Africa, not vice versa: Neema
19th November 2021
Unlocking the enormous opportunities in the African market will require reinsurers to adapt their approach based on local realities, not the other way around, according to African specialist underwriting agency, Neema Insurance Managing Agency, which has recently celebrated its first year of operations with very strong results. During an interview with ... Read the full article
Gallagher looks to develop in Middle East & Africa with energy hire
27th October 2021
Re/insurance broker Gallagher has announced plans to further develop its energy proposition in the Middle East and Africa with the addition of William Peilow as a partner in its Specialty energy team. Peilow joins from Willis Towers Watson (WTW) and brings existing relationships with risk managers, insurance and reinsurance companies in ... Read the full article
Allianz Africa names Delphine Traoré as CEO
25th October 2021
Allianz Africa has appointed Delphine Traoré as Allianz Africa Regional Chief Executive Officer (CEO), in addition to her current responsibilities. She succeeds Coenraad Vrolijk who is leaving Allianz Africa to pursue new opportunities outside of the Allianz group. Traoré joined the Allianz Group in 2005 with Allianz Global Corporate & Specialty (AGCS) ... Read the full article
Munich Re Automation Solutions launches Predictor in South Africa
15th October 2021
Munich Re Automation Solutions, a provider of insurtech solutions to the life insurance industry, has launched its predictive underwriting enablement technology, Predictor, in South Africa. ALLFINANZ Predictor is designed to simplify the deployment and integration of predictive models, helping firms to achieve greater automation, better evidence management, in-depth model performance monitoring ... Read the full article
African Risk Capacity to join UN’s Net-Zero Asset Owner Alliance
28th September 2021
It's been announced that the African Risk Capacity (ARC) Limited is the first African company to join the UN-convened Net-Zero Asset Owner Alliance. The Net -Zero Asset Owner Alliance was established in 2019 by eight of the world’s leading insurers and reinsurers and is designed to transition insurance portfolios to net-zero ... Read the full article
Africa Re “optimistic” after improved H1 performance
27th September 2021
Africa Re CEO Corneille Karekezi has said he is “cautiously optimistic” about the company’s prospects for 2021, following an H1 period that yielded improved underwriting and investment performance, as well as higher profits. Africa Re recorded a gross premium income of US $421 million in the first six months of 2021 ... Read the full article
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