Ebola causing more concern than Covid-19 in west Africa

Ebola causing more concern than Covid-19 in west Africa

Ebola causing more concern than Covid-19 in west Africa

A new outbreak of Ebola in Guinea is causing more concern than the ongoing Covid-19 pandemic, according to experts. Risk managers are watching this latest outbreak carefully, alongside the growing concerns over African variants of the Covid-19 virus. Travel to and from the whole continent is becoming more difficult as governments, such as the UK, impose severe travel restrictions and…

New CRO for African Development Bank

New CRO for African Development Bank

New CRO for African Development Bank

The African Development Bank (AfDB) has appointed Ifedayo Orimoloye as its group chief risk officer (CRO), effective 1 April 2021. Mr Orimoloye, a US national, brings more than 20 years of risk management and corporate finance experience from international and diverse financial institutions in Africa, Europe and North America. As the bank’s group CRO, he will lead the preparation and…

Training goes online for east African reinsurer

Training goes online for east African reinsurer

Training goes online for east African reinsurer

East African reinsurer Kenya Re has hosted a series of virtual training sessions for its team members, covering construction risks, professional indemnity insurance, civil engineering completed risks and bond/surety. Pooba Mahalingam, from Talent Asia Training and Consulting, said the online training was designed to share case studies, clauses and wordings to provide a better understanding of engineering risk and insurance, application…

Africa Specialty Risks Group increases capacity for Africa

Africa Specialty Risks Group increases capacity for Africa

Africa Specialty Risks Group increases capacity for Africa

Africa Specialty Risks (ASR) has secured additional multi-year binder capacity of up to $25m per risk through a partnership with GIC of India and annual capacity from Peak Re. This has been supported and completed with the help of Aon. As a result, ASR will offer capacity across property, political risk, trade credit and energy, and will expand its current…

The impact of Brexit on the construction industry

The impact of Brexit on the construction industry

The impact of Brexit on the construction industry

On 24 December 2020, the EU and the UK finally agreed a post-Brexit trade agreement – the Trade and Cooperation Agreement (TCA) – which came into effect on 1 January 2021. The environment in which the construction industry operates will undergo significant change in light of Brexit and the TCA. By their very nature, construction contracts are concerned with risk…

Multibillion-rand PPE fraud highlights need for better risk management

Multibillion-rand PPE fraud highlights need for better risk management

Multibillion-rand PPE fraud highlights need for better risk management

Alarming disclosures by South Africa’s Special Investigating Unit (SIU) that more than ZAR13bn-worth of government-purchased personal protective equipment (PPE) is subject to a fraud investigation, again demonstrates the need for more risk management in both the public and private sector. Gillian le Cordeur, chief executive of the Institute of Risk Management South Africa (IRMSA) said: “While the institute welcomes the…

Howden to rebrand Matrix in South Africa

Howden to rebrand Matrix in South Africa

Howden to rebrand Matrix in South Africa

Howden is to rebrand South African broker Matrix, following last year’s acquisition of the company. It will take the parent company’s name. In the past seven years, Matrix MIRB, led by CEO Gary Ankcorn, has built up its portfolio, managing ZAR1bn (£65.5m) of client premiums. The renamed Howden South Africa will continue to provide bespoke treaty, facultative, structured reinsurance alongside…

Claims set to be impacted by new insurance policy formats, warns leading risk manager

Claims set to be impacted by new insurance policy formats, warns leading risk manager

Claims set to be impacted by new insurance policy formats, warns leading risk manager

Insurers are predicting that the impact of the Covid-19 business interruption (BI) test case in the UK will have an impact far beyond the pandemic. Speaking at a Commercial Risk webinar on claims management sponsored by Belfor, Raymond Hogendoorn, global head of short-tail claims at AGCS, predicted there will be an impact on catastrophe events because of the ruling on…

Don’t just talk risk, talk opportunity

Don’t just talk risk, talk opportunity

Don’t just talk risk, talk opportunity

Ahead of the launch of the Institute of Risk Management South Africa’s annual risk report,  its chief risk adviser and report co-founder Christopher Palm talked to Sean Pyott, managing director at Thryve. The nature of risk conversations shifted during 2020. You would like risk to be used more broadly and not just focused on negative consequences. Could you elaborate? CP:…

Covid-19 taking heavy toll in South Africa

Covid-19 taking heavy toll in South Africa

Covid-19 taking heavy toll in South Africa

The Covid-19 pandemic is taking a heavy toll in South Africa as the country accounts for the majority of Covid-related deaths on the continent. Zanele Makhubo, chair of South Africa’s Institute of Risk Management (IRM) and RIG director, ERM and business continuity in the public sector, warned: “There has been a marked increase in the mortality rate in the country…

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