Adan Abbey is the President of Horn of Africa Insurance that serves the Somaliland and Somalia market.
Digicall is to be the official distributor and reseller of Intercept IP’s technology in the Southern African region, following an agreement between the two parties.
Sanlam reported a satisfactory operational performance in the four months to 30 April 2019, despite persisting headwinds in South Africa.
Bedrock Insurance Company Limited, a wholly owned Ghanaian insurance firm has officially launched with the aim of being the most people-centred risk solutions provider in Ghana.
In 2018, Sanlam paid out R3,9b in claims, with R3,2b being for life cover, R329m for income cover and R323,5m for trauma and injury.
ThinkMarkets, provider of online trading in financial markets announces that it will offer bank-like level of safety of $1 million (over R14.4 million) for traders on its platform.
Professional Provident Society (PPS), the South Africa-based specialized insurance services leader, has aligned its Information Technology teams with Freshworks, a customer engagement software provider.
Kenindia Assurance has increased interest payable on retirement funds under its management to 11.5% for the year December 2018. This is a rise from the 11.25% it posted in 2017.
uKheshe, South Africa’s economic and convenient QR cash card has announced the launch of uKheshe Life, a hospital, disability and life benefits card.
Moody's Investors Service has assigned an A3 insurance financial strength (IFS) rating to The African Trade Insurance Agency (ATI), with a stable outlook.
Global insurance brokerage firm Lockton MENA Limited has announced the appointment of its new Chief Executive Officer, Ata Khatib.
Moody’s Analytics and partner to deliver international financial reporting standards solutions to insurers in Africa
Moody’s Analytics has partnered with QED to provide insurers in Africa with International Financial Reporting Standards (IFRS) 17 advisory services and software solutions to address the new accounting standard.
Globally, leading insurance companies are embracing the future and capitalising on technological advancement and innovation much faster than other industries.
Sapiens International Corporation, a global provider of software solutions for the insurance industry, has announced a strengthened partnership with a tier-1 South African bank.
Sanlam has launched Sanlam Now Cover, a digital platform which enables intermediaries to complete a client’s application for death and disability cover in a single visit, in just 15 minutes.
AXA Life Insurance Egypt and the Ahli United Bank of Egypt (AUB) have signed a new bancassurance agreement.
The Monetary Policy Committee retained the Central Bank Rate at 9.00 percent as at March 27, 2019.
IFC has announced that it has signed an agreement with Africa RE, to help thousands of small holder Nigerian farmers more easily access insurance to protect their crops and livelihoods.
[South Africa] FlySafair introduces service that allows passengers to send boarding passes via Whatsapp
South African Airline, FlySafair has announced that its passengers will now have the option to send their boarding passes to their phones via WhatsApp, once they’ve completed the check-in process.
[South Africa] Sanlam remains resilient amid challenging operating environment, Sanlam annual results
Sanlam’s 2018 annual results provides testimony to its resilience amid challenging operating conditions and negative investment markets as it announced its operational results for the 12 months ended 31 December 2018.
Stanbic Holdings posted KSh6.3 billion profit after tax last year, a 46 percent growth from the previous year’s KSh4.3 billion, driven by growth in customer loans and deposits.
Santam shares have begun trading on A2X Markets as of Friday the 1st of February.
Global rating firm AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of CICA Re Togo.
South Africa’s largest general insurer Santam, will effect a secondary listing of its shares on the A2X Markets exchange come February 1, 2019.
African Trade Insurance Agency, AFC support a €577 million debt financing facility for West Africa’s largest oil refinery
Côte d’Ivoire’s economy is one of the strongest in sub-Saharan Africa with an anticipated 2018 GDP growth of 7.6 per cent.
Nigeria’s NEM Insurance Plc has announced that Advanced Finance and Investment Group has completed an investment in the Company, by acquiring 29.9% of the Company’s shares.
The South African Airways has appointed advocate Vusi Pikoli to its leadership team to head Risk and Compliance effective February 1, 2019.
The Ghana Stock Exchange (GSE) has announced that Aluworks Limited (ALW) and Cocoa Processing Company Limited (CPC) have been taken off the GSE’s “Watch List”.
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.
[South Africa] The Professional Provident Society partners with Plug and Play to bolster insurance innovations
The Professional Provident Society has announced its partnership with Plug and Play, the world's largest global innovation platform headquartered in Silicon Valley.
The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency.
The Nigerian Stock Exchange, NSE, has announced the review of the NSE-30, and the eight sectoral indices of the Exchange
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of “a” of African Reinsurance Corporation Nigeria.
More than a year and a month after insurance tech startup Pineapple raised R5.2m from Lireas Holdings, the strategic investment arm of Hannover-Re Group Africa, the startup has now been accepted into The Hartford Insurtech Hub.
The Government of Nigeria and private sector investors are set to receive support that will help boost key industries such as the banking sector.
The Commission of the Economic Community of West African States (ECOWAS) and the government of Spain have restated their commitment to greater collaboration in order to build the capacities of citizens in the region.
BK Group PLC has cross-listed on the Nairobi Securities Exchange (NSE) becoming the first Rwandan company to tap into the Kenyan Capital Market.
A.M. Best has affirmed the Financial Strength Rating of B+, Good, and the Long-Term Issuer Credit Rating of “bbb-” of Continental Reinsurance Plc Nigeria.
Since launching a year ago, the Regional Liquidity Support Facility (RLSF) has signed agreements with five countries.
Sapiens International Corporation has announced that a tier 1 South Africa bank has chosen to expand its use of the Sapiens policy administration suite for life insurance.
The South Africa Department of Labour is warning the public against a bogus website doing rounds on social media platforms promising the UIF benefits.
Azuri Technologies and APA Insurance have announced the launch of HospiCash, a low-cost micro-insurance product for Azuri solar power customers across Kenya.
The Capital Markets Authority (CMA) has granted approval for the cross-listing by introduction of Bank of Kigali Group Plc (BK), a holding company of Bank of Kigali Plc, BK Insurance, BK Capital and BKTecHouse, on the Nairobi Securities Exchange (NSE).
A staff team from the International Monetary Fund (IMF) has completed its October visit in Cotonou, Benin. The visit was to hold discussions on the third review of the three-year economic and financial program supported by the IMF under the Extended Credit Facility (ECF) arrangement with the Republic of Benin.
The African Development Bank and African Trade Insurance Agency have announced the successful completion of a US$500 million credit insurance deal structured to cover a portion of the Bank’s portfolio of non-sovereign operations in Africa.
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
With less than five per cent of the Nigerian population under any sort of healthcare cover, Piggybank.NG and Avon Healthcare have signed a strategic partnership to provide health insurance plans to Nigerian users with flexible monthly payments.
This week, the ever aggressive South African business world has seen two major companies, Vivo energy and Naspers all set to list on Johannesburg Stock Exchange (JSE).
The Legatum Center for Development and Entrepreneurship at MIT, has named South African startup Wala as the grand prize winner of the 2018 Zambezi Prize for Innovation in Financial Inclusion, as well as the regional winner of the MIT Inclusive Innovation Challenge.
Marsh has provided a $95 million innovative bank surety solution to Yapı Merkezi Construction and Industry Inc., to support the construction of a new high-speed electric railway line in Tanzania.
The Insurance Sector in Nigeria enjoyed a steady growth with Premiums increased of 300 per cent from N75 billion to over N300 billion between 2005 and 2015
ADvTECH has announced the acquisition of Monash South Africa (MSA), a leading South African private tertiary education institution with students from more than 50 countries.
Subject to regulatory approval, Tokio Marine will acquire a 22.5% stake in Hollard South Africa and Hollard International for approximately R5 billion, fulfilling Hollard’s long-held goal of partnering with a major international insurance group.
S.Vijay Iyer, Vice President and Chief Operating Officer of the Multilateral Investment Guarantee Agency, MIGA, the political risk insurance arm of the World Bank Group – is set to visit Kenya and Rwanda.
Despite the additional pressures of unrelenting regulatory and insurance accounting changes, and the huge costs associated with the changes, there are some positive developments and opportunities for growth.
After its recently concluded annual review of the African Trade Insurance Agency (ATI), S&P Global Ratings has affirmed the company’s ‘A’ for Financial Strength and Counterparty Credit as well as its “Stable’ outlook.
President Yoweri Museveni has said that a number of Government of Uganda funded contracts worth $2.4bn have been given to Chinese companies especially on roads and recently security cameras worth $120 million.
As industries grow, so does the job market, consumer satisfation and investor confidence. Nigeria is gaining a reputation as fertile ground for both business expansion and takeoff point for startups.
Uganda has become the first African country to sign an agreement with the Regional Liquidity Support Facility, a joint initiative of the African Trade Insurance Agency, a Pan-African and multilateral guarantor and KfW with funding from German Ministry of Economic Cooperation and Development.
Allianz Group has announced the completion of the acquisition of 99.03 percent of the shares in Nigerian insurer Ensure Insurance from its core shareholder Greenoaks Global Holdings.
As Kenya aims for mid- level economic status it has set targets it hopes will propel it to this dream.
GreenTec Capital has announced its investment into Bismart Insurance from Kenya. Leveraging on cutting edge technology, the company provides a digital interface to offer insurance products and services across Africa.
There is no shortage of opinions with regards to what needs to be done to improve economies of Africa. Experts from diverse fields advocate for different solutions, some tailored to fit their field interests, others seeming to stem from a place of general betterment.
The African Trade Insurance Agency (ATI) has urged Nigeria and other countries to focus on de-risking their economies to drive future investment growth.
In a much anticipated announcement, the African Trade Insurance Agency (ATI) , declared that its General Assembly had approved the first ever payments to shareholders.
A.M. Best has affirmed the Financial Strength Rating of B++, Good and the Long-Term Issuer Credit Rating of “bbb” of Arab Misr Insurance Group S.A.E., gig-Egypt.
Global and African financial heads identified country risk as the biggest challenge to their ability to lend more to African countries.
Kenya’s Retirement Authority has appointed Mr. Nzomo Mutuku as the Chief Executive Officer of the Authority.
The forming and maintaining of strategic, mutually beneficial partnerships is pertinent to the development of any economy, especially a growing one like Nigeria.
NSIA Insurance Limited has been awarded ISO 9001:2015 Certification by the Standards Organisation of Nigeria, the representative of the International Organisation for Standardisation (ISO) in Nigeria.
African Trade Insurance (ATI) has announced 6th consecutive year of profit to $9.9 million in Net Profit for the year ending December 2017.
[Kenya Business Week] Towards sustainable businesses, public private partnerships and courts to the rescue
Kenya’s business landscape has this week continued to register mixed fortunes with key sectors, including banking, agribusiness, horticulture and insurance featuring prominently.
Private equity fund AfricInvest has officially become a shareholder in diversified financial services company Britam after acquiring a 14.3 per cent stake.
OUTsurance Life is to add funeral cover to its current offering. According to Danie Matthee, CEO of OUTsurance, the new product which will become available next month will meet customer demand in South Africa for a dignified funeral, while offering much greater flexibility for policy holders.
Hollard Namibia has contracted SilverBridge Holdings to implement a Microsoft-based business intelligence (BI) solution and enable it to extract meaningful insights from its data to help drive business strategy.
The latest South African Customer Satisfaction Index (SAcsi) for Life Insurance Companies in 2017, conducted by Consulta, reveals that Metropolitan’s customers are still the most satisfied with their service.
“Insurtech has gained momentum over the last two years in South Africa. It was initially seen as a major threat by insurance companies, but now insurers are taking a far more proactive approach to seizing opportunities in this space and are starting to collaborate with startups."
“Insurtech has gained momentum over the last two years in South Africa. It was initially seen as a major threat by insurance companies, but now insurers are taking a far more proactive approach to seize opportunities in this space and are starting to collaborate with startups."
Lockton Middle East and North Africa has continued the expansion of its regional footprint with the launch of its new Cairo office as the business looks to take advantage of the strengthening Egyptian economy.
Research shows that 93% of South African companies are developing a cloud strategy, and are either in the implementation stage, or in the planning stage, of their cloud journey.
The Board of Directors of the African Trade Insurance Agency has elected Dr. Yohannes Ayalew Birru as their new Chairman.
The past few months have seen digital becoming more integrated with industry sectors across Africa. But it is the data-rich environment of insurance that has especially benefitted from this with several trends emerging that impact on the effectiveness of its delivery in the continent.
Britam has launched a unit-linked investment product which offers customers the opportunity to earn high returns while providing them with life insurance protection cover.
Insurance startup Naked launches today with an AI-based car insurance offering. Rebuilt for social good, the new product puts customers in control of their insurance and saves them money.
Britam Holdings Plc total comprehensive income grew by 143 % to Shs 1. 9 billion in 2017, up from Shs 784.7 million in 2016.
Consolidation is taking place in the East African insurance market due to rising capital requirements and mergers with international firms that want to gain a foothold in the region. Ashok Shah, Group CEO of APA Apollo examines the opportunities this brings.
Sanlam, SAHAM’s partner since February 2016, will increase its stake in the capital of SAHAM Group’s insurance subsidiary, from 46.6 per cent to 100 per cent, according to the terms of an agreement recently reached.
The Overseas Private Investment Corporation says it has committed $2.4 billion to date to the U.S. Power Africa initiative to harness the resources of the private sector to bring more electricity to Africa.