The Standard Bank Insurance is implementing a 25% cash back relief on its car insurance premiums.
Vodacom and Discovery have partnered to deliver a simple but powerful online healthcare platform for the benefit of all South Africans during the COVID-19 pandemic.
The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees to support the operation and maintenance of six additional solar power plants at the Benban Solar Park in the Aswan Governorate in Upper Egypt.
SA Taxi has introduced FICO's cloud-based decision management solution to drive lending growth of 25 percent.
Santam has reported solid operational results for 2019, notching a 7% Gross Written Premium (GWP) growth and 7.7% underwriting margin (2018: 9.2%) for the conventional insurance business.
Sapiens International Corporation has announced that SA Taxi Protect, an independent financier for the minibus industry in South Africa, has gone live with Sapiens IDITSuite for Property & Casualty.
Andersen Global is strengthening its presence in West Africa with a Collaboration Agreement with Freetown-based legal firm Fornah-Sesay, Cummings, Showers & Co., FCS Legal, in Sierra Leone.
GetSavvi Health is one of the leading medical cover plans providers in South Africa.
South Africa’s on-demand insurance technology (Insurtech) startup JaSure has raised funding from the country’s leading short-term insurer Santam.
In an effort to facilitate easy access for claimants particularly the injured workers, the Department of Employment and Labour Compensation Funds' (CF) has replaced the old system, UMEHLUKO, and introduced COMPEASY.
The Travel Insurance Consultants (TIC) has reinstated the travel supplier insolvency cover on the South African Airways.
The Board of the African Development Fund (ADF) approved a $685,000 grant to strengthen Zimbabwe’s capacity to manage disaster risks.
AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Kenya Reinsurance Corporation Limited (Kenya Re) (Kenya). The outlook of these Credit Ratings (ratings) is stable.
The World Bank approved a US$275 million Disaster Risk Management Development Policy Loan for Morocco that contains a Deferred Drawdown Option for Catastrophe Risks (Cat DDO).
Santam has been officially recognised by the Top Employers Institute as a Top Employer 2020 for excellence in employee conditions.
The CEO of the U.S. International Development Finance Corporation (DFC), announced a commitment to provide $430 million in insurance to advance energy security in Egypt.
A study by Santam has revealed the majority of corporates and consumers polled in a landmark survey on insurance trends see the challenging economy as the biggest risk in South Africa over the next two years.
Infrastructure solutions provider in Africa, Africa Finance Corporation, today announces that the African Development Bank Group has invested US$50 million in the equity of AFC.
GC Rieber Shipping ASA reports to have had a fire onboard its managed vessel Polar Marquis, offshore Senegal yesterday Monday November 11th 2019.
The EIB has formally agreed to support membership expansion of the African Trade Insurance Agency with a concessional financing facility to cover the shareholding of three prospective members - Cameroon, Niger and Togo.
Following a successful 18-month pilot, the BoE Stockbrokers will continue a programme of training and technical co-operation first agreed on 17 April 2018 with the SARB (South African Reserve Bank) until March 2022.
The Unemployment Insurance Fund's (UIF) has started processing claims for the new Parental Benefits to contributing and qualifying UIF beneficiaries.
With over 25% of Kenya’s insurance industry income fraudulently claimed, Kenindia Assurance has taken steps to curb the fraud by incorporating artificial intelligence in its motor insurance claim processes.
It's no secret that the insurance sector is conservative by nature and has largely been slow to embrace technology.
The Secretariat of SADC and the Africa Risk Capacity signed a MoU which lays the foundation for collaboration on matters of common interest related to disaster risk and financing for disaster management.
Insurance company Fortaleza has launched the sale of travel insurance via the Internet, through a platform available on the company's website, which operates 24 hours a day.
Insurance markets across sub-Saharan Africa provide an opportunity for diversification and an avenue for growth, and so remain attractive to international reinsurers taking a longer-term view.
Verod Capital Management has received regulatory approvals for its acquisition of 100 per cent of the shareholding of Metropolitan Life Insurance Nigeria from South African-based Momentum Metropolitan Holdings.
Kenindia Assurance plans to develop innovative digital distribution means to reach the uninsured and youthful populations to boost profits by 20 percent in 2019.
With more than two decades’ experience in the insurance market, SilverBridge has continually evolved to deliver on market requirements.
Britam General Insurance Ltd has launched an innovative Cyber Insurance cover which will enable businesses to protect themselves against the increasing trend of cyber-crime.
Santam, South Africa’s largest short-term insurer has reported solid operational results for the six-month period ended 30 June 2019, in an environment characterised by tough trading conditions for short-term insurers.
South Africa’s insurance company Guardrisk has partnered with Root, a Fintech start-up to extend its CarSure product, which offers insurance to people renting cars.
OUTvest, the pioneering digital investment service that sits within OUTsurance Holdings, is enabling South Africans to go beyond goals-based saving and to invest in a five-year endowment through a fixed deposit at a fixed rate, underwritten by OUTsurance Life.
Online taxi hailing app Little Ride Kenya has launched the first Health Insurance cover for its drivers in the Kenyan market in partnership with APA Insurance and MicroEnsure, a leading provider of micro insurance in emerging markets.
Humanitarian agencies are setting up innovative climate risk insurance policies to protect up to 1.3 million people in West Africa from catastrophic drought.
Kenya’s CIC Insurance Group has partnered with taxi-hailing app Little Cab to launch a product that will offer free rides to clients while their vehicles are undergoing repair.
SAP and Discovery Health, a South African medical insurance administrator, are partnering to combine data-driven insights, insurance and healthcare products with a customer-centric engagement platform.
[South Africa] SAP to co-innovate with Discovery Health to transform health insurance businesses into intelligent healthcare enterprises
SAP and Discovery Health are partnering to combine data-driven insights, insurance and healthcare products with a customer-centric engagement platform to enable health insurance businesses transform into intelligent healthcare enterprises.
Dignitaries from the Ministries of Finance along with the Head of the country’s Banking Association have officially launched the African Trade Insurance Agency’s (ATI) West Africa regional office.
MUFG Bank, Ltd. and the African Trade Insurance Agency (ATI), have signed an agreement that will allow for increased cooperation and information sharing.
MUFG Bank, Ltd. and the African Trade Insurance Agency (ATI), have signed an agreement that will allow for increased cooperation and information sharing.
Heritage Insurance Kenya has launched the country’s first telematics motor insurance, dubbed Auto Correct motor insurance.
Financial services group Sanlam Kenya has sealed an agreement with Sompo Holdings, one of the largest insurance groups in Japan.
Growth is expected to be seen in the engineering insurance as Kenya embarks on completing its construction and infrastructure projects under the Agenda 4, says Kenindia.
Dott, the European micro-mobility company, announced a commitment for a €30 million Series A funding round.
According to the Insurance Regulatory Authority Q4 industry report, the general insurance business in Kenya grew by 3.5 per cent, a factor that mostly driven by compulsory motor insurance.
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.
Questions have also been abound on the security of mobile money transactions platforms, and also on the capacity of African security agencies to tame the fraud. Progress is, however, being made.
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.