South Africa mirrors global trend on unemployment risk

South Africa mirrors global trend on unemployment risk

South Africa mirrors global trend on unemployment risk

South Africa has reflected global concerns in citing unemployment as its larget risk, according to a new survey from the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks also scored highly and cyber risks are becoming more important to the 12,400 executives from 136 countries…

New CEO in Africa and Asia for Ed

New CEO in Africa and Asia for Ed

New CEO in Africa and Asia for Ed

Ed, the global reinsurance, wholesale and specialty broker, has appointed Minesh Jani as chief executive of Middle East and North Africa (MENA), India and Indian sub-continent. Mr Jani brings more than two decades of reinsurance experience to Ed. He joins from Aashvaasanam Analytics in Mumbai, a business he founded to support the launch and build of an international reinsurance business.…

AIG places first Shariah-compliant warranty and indemnity policy in MENA

AIG places first Shariah-compliant warranty and indemnity policy in MENA

AIG places first Shariah-compliant warranty and indemnity policy in MENA

The first Shariah-compliant insurance policy in the Middle East and north Africa region (MENA) for merger and acquisitions activity has been placed by American International Group (AIG), advised by global law firm Norton Rose Fulbright. AIG said it offers a range of Islamic insurance solutions for M&A transactions through its partnership with Shariah-compliant managing general agent Cobalt Underwriting. Mark Storrie,…

World Bank boosts job opportunities in Tunisia

World Bank boosts job opportunities in Tunisia

World Bank boosts job opportunities in Tunisia

A new World Bank project in Tunisia is to help firms meet demands in national and international markets as a way of boosting employment in the country. The new $60m project aims to help address the jobs challenge in Tunisia, with support for government efforts to better target employment programmes and create more and better opportunities. The Tunisia Youth Economic…

Allianz wins approval in Casablanca

Allianz wins approval in Casablanca

Allianz wins approval in Casablanca

Allianz has been granted the status of Casablanca Finance City (CFC) for Marofinac, the group’s financial services subsidiary in Africa. It said: “This step underlines the company’s strategic vision to increase its presence in the Moroccan market and across the continent.” Allianz’s regional chief executive officer for Africa, Coenraad Vrolijk, explained: “We are pleased to have joined Casablanca Finance City,…

Expert insight essential for strong risk management

Expert insight essential for strong risk management

Expert insight essential for strong risk management

Tunisia and Morocco are set for economic growth this year, while Algeria and Egypt may suffer a decline, according to a new report from trade credit insurer Atradius The report analyses the political and economic situations of four north African countries, as well as ranking the performance of individual sectors within each and assessing their political and credit risk. Alun…

Rating agency affirms Tunis Re grading

Rating agency affirms Tunis Re grading

Rating agency affirms Tunis Re grading

AM Best has affirmed the financial strength rating of B+ (Good) and long-term issuer credit rating of bbb- of Société Tunisienne de Réassurance (Tunis Re). The outlook of these credit ratings is stable. It said the ratings reflect Tunis Re’s strong risk-adjusted capitalisation, good operating performance, and solid business position in its domestic market. The ratings also recognise Tunis Re’s exposure to…

Time to keep a watching brief

Time to keep a watching brief

Time to keep a watching brief

What happens in North Africa often impacts on the whole Sub Saharan African region. Liz Booth asks Toby Iles, a director in the Fitch Ratings’ Sovereign team, how he views the region and the possible impact further south Can you give us a broad overview of the prospects for north Africa as a whole? In North Africa, we rate Egypt…

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Another “exceptional performance” in China, together with solid expansion among the emerging countries, saw global non-life premiums grow 3.7% in 2016, down from 4.2% in 2015 but more than the ten-year average growth rate of 2.0%, according to Swiss Re. The reinsurer’s latest sigma report, World insurance in 2016: the China growth engine steams ahead, reveals that premium growth in…

New law firm members boost francophone Africa legal group

New law firm members boost francophone Africa legal group

New law firm members boost francophone Africa legal group

Africa Legal Network (ALN) has signed up three new members as part of its strategy to expand into francophone Africa. The new members are based in Algeria, Guinea and Morocco and joined as of 1 May. Since October last year, the alliance has welcomed six new member firms, bringing ALN’s coverage to 16 countries, making it the largest legal alliance…

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