Olea Insurance Solutions strengthens hold in Kenya and adds commercial director

Olea Insurance Solutions strengthens hold in Kenya and adds commercial director

Olea Insurance Solutions strengthens hold in Kenya and adds commercial director

Paris-based Africa-focused brokerage firm, Olea Insurance Solutions, now has a footing in the east African market with the purchase of a 40% stake in Kenya’s Koolridge Insurance Brokers. The partnership has resulted in a name change by Koolridge Kenya Insurance Brokers to OLEA Kenya Insurance Brokers. While declining to disclose the amount paid, Koolridge Kenya founder and chief executive Herbert…

Carol Ouko-Misiko joins WEF risk advisory board

Carol Ouko-Misiko joins WEF risk advisory board

Carol Ouko-Misiko joins WEF risk advisory board

The Institute of Risk Management (IRM) has announced the appointment of Carol Ouko-Misiko CMIRM, to the World Economic Forum’s (WEF) Global Risks Report advisory board. The purpose of the advisory board is to provide advice and guidance on the process and content for the Global Risks Report 2020. Ms Ouko-Misiko is a senior member of the institute and plays a…

Rwandan insurance sector: a work in progress

Rwandan insurance sector: a work in progress

Rwandan insurance sector: a work in progress

The Rwandan insurance sector has a long way to go before it meaningfully contributes to the overall economy, warned the local regulator. Speaking at the opening of the Organisation of Eastern and Southern African Insurers’ conference in Kigali, Dr Monique Nsanzabaganwa, deputy governor of the National Bank of Rwanda said there has been 12% growth in the financial sector, but…

Rwandan insurers lose RWF900m on underwriting

Rwandan insurers lose RWF900m on underwriting

Rwandan insurers lose RWF900m on underwriting

The Rwandan insurance industry has made an underwriting loss of RWF900m in the first half of 2019. Local paper The New Times reported that in the same period of last year, underwriting losses stood at RWF3bn, and RWF4.7bn in the first half of 2017. From January to June 2016, the losses stood at RWF8bn. Insurance penetration is currently less than…

Tanzania plans boost for livestock insurers

Tanzania plans boost for livestock insurers

Tanzania plans boost for livestock insurers

Tanzania is considering introducing livestock insurance to promote local leather industries. The news emerged as the Tanzania Insurance Brokers Association (TIBA) held its annual conference. Tanzania ranks third in livestock population behind Ethiopia and Sudan. TIBA’s president Amir Kiwanda said the association would convince members to introduce livestock insurance, to not only promote small-scale livestock keepers but also national economic…

Ethiopia finally relaxes rules on foreign ownership of insurers

Ethiopia finally relaxes rules on foreign ownership of insurers

Ethiopia finally relaxes rules on foreign ownership of insurers

After years of waiting and hoping for change, insurers have welcomed the first sign of a shift from the Ethiopian authorities. For the first time, foreign nationals, albeit only those of Ethiopian origin, will be allowed to operate in the insurance sector. Ethiopia is home to more than 105 million people and has been one of the fastest-growing economies on…

East African risk managers partner with Serianu to grow local cyber risk talent

East African risk managers partner with Serianu to grow local cyber risk talent

East African risk managers partner with Serianu to grow local cyber risk talent

In a bid to develop cyber risk talents, the Institute of Risk Management East African region is to partner with Serianu to boost cyber risk expertise. The East African region is reported to be facing a huge deficit of qualified risk managers, while local public and private organisations need critical hand-holding to ensure risks and opportunities within organisations are effectively…

Business travel not restricted despite Ebola outbreak of ‘international concern’

Business travel not restricted despite Ebola outbreak of ‘international concern’

Business travel not restricted despite Ebola outbreak of ‘international concern’

The World Health Organisation (WHO) has declared the year-long outbreak of Ebola in the Democratic Republic of Congo (DRC) to be of “international concern”. However, borders remain open and the advice to business travellers is to carry on. Yesterday, the WHO said borders need not close and it is mindful of causing a huge economic dip by closing the borders…

Asia engineering insurance experience brought to Mauritius

Asia engineering insurance experience brought to Mauritius

Asia engineering insurance experience brought to Mauritius

The Insurance Institute of Mauritius (IIM) recently organised an engineering training week together with Talent Asia Training and Consulting. Staff from insurance companies, brokers, reinsurance brokers, reinsurers and loss adjusters attended the five-day event. The five days included a look at topics related to engineering insurance, including: CAR/EAR insurances IAR/MB insurances CECR insurance and how it works. IIM president Jean-Yves Violette…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

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