We are pleased to announce to you the launching of the 1st edition of The Africa Insurance Pulse 2020 « The digitization of Africa?”s insurance markets », on October 1st, 2020. FULL PRESS RELEASE ? press-release-eng
The health crisis has left insurers in an unprecedented situation. The latter must, in the coming months, take into consideration new risks with planes grounded and with increasing freight operations. Aircrafts grounded and airports overstretched Covid-19 appeared when airport aircraft parking lots were already overwhelmed by the immobilization of hundreds of Boeing 737 MAX aircrafts […]
The 11th edition of the AIO journal, the AFRICAN INSURANCE BULLETIN is out. This 2020 edition examines the impact of the COVID-19 pandemic on the insurance industry. The publication does a focus on the new strategic objectives of the African Insurance Organisation with insights from the new Secretary General of the AIO, Mr. Jean Baptiste […]
Douala, 25 November 2020 ? According to the Africa Insurance Pulse 2/2020, ?SGrowth perspectives of African re-/insurance markets??, launched today by the Africa Insurance Organisation (AIO), the COVID-19 pandemic posed severe challenges to Africa?”s insurers. In response to the various types of lockdowns and social distancing measures decreed by the African governments, they had to […]
Afirca ReAfrica Re?”s Ordinary General Assembly was held on 26 June 2020. Gathered through an online meeting due to Covid-19, the shareholders approved the accounts of 2019. The previous year ended with a turnover of 845 million USD, up by 6% compared to 2018. The net result rose from 31.269 million USD in 2018 to […]
In an attempt to boost economic and financial development in West Africa, Waica Re is organizing the first edition of the annual Corporate Social Responsibility (CSR) competition entitled ?SPractical Solutions to Natural Disasters in West Africa??. The competition is an opportunity for insurance professionals to propose solutions to the natural disaster-related issues in their respective […]
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. […]
Under the new provisions, Nigerian insurers and reinsurers are required to hold respectively 50% and 60% of the minimum capital required by 31 December 2020. To date, only 20 companies out of more than 50 operating in the market have obtained the approval of their shareholders to recapitalize their business. It should be noted that […]
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. […]
