South African risk managers must prepare for new normal of high insurance premiums

South African risk managers must prepare for new normal of high insurance premiums

South African risk managers must prepare for new normal of high insurance premiums

Risk managers have been warned property insurance prices will remain high for this year and most likely for the foreseeable future. Insurance players attending the African Insurance Exchange in Sun City this week confirmed the South African insurance market has turned for property risks and prices are on the rise. They also warned that some risks have become uninsurable. Although…

Zimbabwe holds its breath as elections take place without Mugabe

Zimbabwe holds its breath as elections take place without Mugabe

Zimbabwe holds its breath as elections take place without Mugabe

Zimbabwe businesses are collectively holding their breath as the first presidential elections without Robert Mugabe take place since independence. Businesses are hoping the transition will be free and fair and that foreign investors will take sufficient confidence from the process to enter the market once again. Speaking at the African Insurance Exchange in Sun City yesterday, Grace Muradzikwa, CEO at…

African economies must act to take advantage of their globally-significant demographics

African economies must act to take advantage of their globally-significant demographics

African economies must act to take advantage of their globally-significant demographics

Growing GPDs, emerging middle-classes and multiplying populations all stand to make Africa the continent of the future. However, warned Dr Joachim Wenning, chair of the board of management at Munich Re, African countries must take advantage of digital developments as they emerge if they are to realise their economic potential. Providing the keynote address at the African Insurance Exchange in…

Marine insurance market preparing for Cape Town event

Marine insurance market preparing for Cape Town event

Marine insurance market preparing for Cape Town event

Marine insurers, together with the South African insurance industry, are preparing for the first International Union of Marine Insurers event in Africa. The conference is due to take place on 16-19 September in Cape Town. One of the local organisers, speaking at the African Insurance Exchange in Sun City yesterday, said registration numbers were looking good for the market’s first…

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally has been named as the new Lloyd’s South Africa country head and general representative. She moves from Swiss Re Corporate Solutions, where she has been country manager for the past three years. Before that, Ms Wally held roles within Zurich, Marsh and Guardrisk in an insurance career spanning the past 20 years. Ms Wally said her plans at…

Alton Byrd new Guy Carpenter South Africa CEO

Alton Byrd new Guy Carpenter South Africa CEO

Alton Byrd new Guy Carpenter South Africa CEO

Guy Carpenter & Company has promoted Alton Byrd to the position of CEO of the firm’s South Africa operations, with immediate effect. Most recently senior vice-president for treaty in the region, in his new role Mr Byrd will be responsible for overseeing all aspects of the ongoing management of the South Africa operations, as well as optimising the growth strategy…

South African risk managers facing death threats for doing their jobs

South African risk managers facing death threats for doing their jobs

South African risk managers facing death threats for doing their jobs

South African risk managers working in the public sector have reported receiving death threats “as part of daily life” if they try to suggest changes. Risk managers speaking at the Cruywagen-Institute of Risk Management South Africa annual Risk Lab admitted death threats had forced them to change cars and even jobs, while they also feared their families’ lives could be…

Cape Town risk-managed its water crisis, say local experts

Cape Town risk-managed its water crisis, say local experts

Cape Town risk-managed its water crisis, say local experts

Risk managers in the Cape Town municipalities have said the recent drought in Cape Town was a risk management success, as the city was able to cut back on water usage and avoid a shutdown of supplies. Speaking in Cape Town recently, a group of risk managers said the council policy of issuing ‘Day Zero’ ultimatums had the desired effect…