Akinsola Ale has been appointed Managing Director/CEO of Nigeria Reinsurance Corporation (Nigeria Re). Akinsola Ale This decision was endorsed by the National Insurance Commission (NAICOM) on 31st August 2020. A graduate of the University of Lagos and the Chartered Insurance Institute in London, Akinsola Ale bags over 30 years of professional experience in the insurance […]
The new strategic plan, which redefines the strategic objectives and specific actions to be taken is a blue print document that reviews the organisation?”s current performance status in comparison with its abilities, expectations from its members and stakeholders, requirements of African?”s insurance and reinsurance markets as well as comparison with peers with a similar mandate. […]
Bachir Baddou, General Manager of the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR), Past President and current Executive Committee member of the African Insurance Organisation has been elected to the Executive Committee of the Global Federation of Insurance Associations (GFIA). B. Baddou will serve as Treasurer. Since November 2016, B. Baddou has been the […]
Karim Diarassouba has been appointed General Manager of the Reinsurance Company of the Member States of the Inter-African Conference of Insurance Markets (CICA-Re).Mr. Diarassouba of Ivorian nationality, served as his country?”s Director of insurance for eight years.The new General Manager who will be based in Lomé, Togo, will take office on 2 January 2021.He takes […]
According to the World Bank estimations, the losses caused by the Coronavirus pandemic in sub-Saharan Africa could range between 37 and 79 billion USD in 2020. The agricultural production could decrease by -2.6 to -7% which represents a real threat when it comes to food security. The disruptions in the supply chain may also shrink by […]
The African Insurance Organisation, has adopted some stiff measures aimed at protecting the AIO Secretariat staff and its members in a bid to prevent the spread of the pandemic A communique signed by the Secretary General of the AIO, Mr. Jean Baptiste Ntukamazina, outlines some of the measures put in place by the Organisation to […]
Fitch Ratings believes that reinsurers have absorbed significant coronavirus-related losses. According to the rating agency, the overall combined ratio of the reinsurance market increased by 10.4 points during H1 2020 and was set at 101.8% compared to 91.4% in 2019. Such deterioration is closely linked to business interruptions and cancellation of events caused by Covid-19. Damages […]
The Executive Committee of the African Insurance Organisation has cancelled the 47th Conference and Annual General Assembly of the AIO which was initially scheduled to hold in Lagos, Nigeria from May 31 to June 3, 2020.
