Kenya Re?”s new subsidiary in Kampala will be operational by the end of 2019. The objective is to become one of the leaders on the Ugandan insurance market currently dominated by Uganda Re, Zep Re and Africa Re. Since Uganda, Tanzania and Ethiopia set up their own reinsurance company, Kenya Re is facing stiffer competition […]
Hatem Amira was appointed Executive Director of the Tunisian Federation of Insurance Companies (FTUSA), effective April 2020. A graduate of the Faculty of Juridical and Political Sciences of Tunis, H. Amira began his career in 1993 as head of department at COMAR Assurances and HAYETT. In 2006, he joined Assurances BIAT where he held the […]
The results for the first half of 2018 show a 10.83% increase in gross written premiums of the African Reinsurance leader, Africa Re, which rose from 372.35 million USD in June 2017 to 412.68 million USD in June 2018. The good renewal of South African reinsurance treaties associated with the various increases in participation in […]
Data collected by Association of Kenya Insurers shows that local Marine Cargo Insurance premium has grown by 57% in the first quarter of 2017. Premiums collected hit Ksh550million compared to Ksh350million during the same period last year. Eighteen marine cargo insurance underwriters recorded premiums of Ksh10 million and above. The highest was Kshs70.97 million. The […]
The Insurance Institute of South Africa welcomes the recent appointment of Viviene Pearson to the Board. We look forward to Viviene contributing to the success of the IISA through her industry knowledge, experience and networks. Viviene has been the Chief Executive Officer of the South African Insurance Association (SAIA) since January 2016. She joined 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.
