South African M&A conditions set to improve

South African M&A conditions set to improve

South African M&A conditions set to improve

Conditions for deal activity in South Africa are predicted to improve in 2018, but this will depend on political and economic conditions in the country in the next two years, according to the latest report from Baker McKenzie. In its third edition of the Global Transactions Forecast, the law firm states that the easing of key economic and political risks…

Protectionism picks up across EMEA economies – report

Protectionism picks up across EMEA economies – report

Protectionism picks up across EMEA economies – report

Globalisation has come to a grinding halt in many EMEA insurance and reinsurance markets, with the rise of populist and nationalist sentiments ushering in protectionist measures designed to safeguard local insurers and keep premium income and capital in the country. To develop their local insurance markets, regulators have imposed compulsory cessions to state reinsurers, restrictions on foreign ownership, limits to…

Industry welcomes sanctions relief for Sudan

Industry welcomes sanctions relief for Sudan

Industry welcomes sanctions relief for Sudan

News that the US has lifted most of the economic and trade sanctions on Sudan has been met with relief and optimism by business in the region. Insurers told Commercial Risk Africa that it would be good news for the insurance sector as opportunities grow in the northeast Africa state. It is also expected to boost the aviation, agriculture, oil…

Protectionism may backfire across Sub Saharan African insurance markets

Protectionism may backfire across Sub Saharan African insurance markets

Protectionism may backfire across Sub Saharan African insurance markets

Protectionism in Africa’s insurance markets may backfire and actually restrict market development, according to a new report from AM Best. It said an open and competitive reinsurance market is vital for risk-transfer and market development. Salman Siddiqui, AM Best associate director, said: “Excessive protectionism, such as the discouragement of cross-border reinsurance placements, may have major negative implications as it creates…

Insurance capital requirements under review in Nigeria

Insurance capital requirements under review in Nigeria

Insurance capital requirements under review in Nigeria

Nigeria’s National Insurance Commission (NAICOM) is reviewing capitalisation in the insurance sector to ascertain the deployment of current capital. Mohammed Kari, NAICOM’s commissioner for insurance, stressed that the commission will not engage in reckless introduction of capital requirements for insurers. Mr Kari added that the commission will conduct a pilot inspection on the insurance industry under its risk-based supervision initiative…

Ugandan law firm to merge with global giant

Ugandan law firm to merge with global giant

Ugandan law firm to merge with global giant

Law firm Dentons is to form a combination with Kampala Associated Advocates (KAA), an international law firm in Uganda. Dentons claims to be the world’s largest law firm, while KAA is the largest in Uganda with 26 lawyers, including 12 partners. Dentons said the proposed combination would enable both firms to connect their respective talents to opportunities in Uganda, east…

Regulation still driving the shape of African insurance markets

Regulation still driving the shape of African insurance markets

Regulation still driving the shape of African insurance markets

For risk managers, sustainable insurance companies are essential to provide the protection they need and in providing surety that claims will be paid. However, as Liz Booth reports from the Organisation of Eastern and Southern Africa Insurers’ annual conference in Cape Town, insurers are still arguing for more time to put their houses in order Calls for greater consistency of…

South African government publishes draft privacy rules

South African government publishes draft privacy rules

South African government publishes draft privacy rules

The South African Information Regulator has published the draft Protection of Personal Information (POPI) rules and invited people to comment on them by 7 November 2017. For risk managers, there will be some new things to be aware of but lawyers say the draft has not added too much that would be onorous. Lawyers at Michalsons said: “Well done to…

Mining code on cards for Africa

Mining code on cards for Africa

Mining code on cards for Africa

Mining houses and governments could be supported by a new model mining code for Africa. According to a report on African Business Communities, Africa has been enjoying a mineral boom, producing more than 10% of the world’s minerals by value, from more than 30% of its global mineral reserves. However, mining and development have not necessary gone hand in hand.…

South African mines move towards settlement in silicosis claims

South African mines move towards settlement in silicosis claims

South African mines move towards settlement in silicosis claims

South African mining firms are reported to be preparing a multimillion-dollar settlement with as many as 100,000 former workers suffering from lung diseases. Mining News reported that Anglo American has set aside $101m in preparation for a potential settlement, while Gold Fields expects to pay about $30m to end a class action lawsuit. AngloGold Ashanti, Sibanye Gold and Harmony Gold Mining are among 32 respondents…

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