Royal Exchange set to boost agriculture insurance in Nigeria

Royal Exchange set to boost agriculture insurance in Nigeria

Royal Exchange set to boost agriculture insurance in Nigeria

Nigerian insurer Royal Exchange General Insurance plans to boost its agricultural capacity after a deal in which the InsuResilience Investment Fund is to buy a 39.25% stake in the company for an undisclosed sum. Royal Exchange General Insurance is one of the largest non-life insurance companies in Nigeria. Through its activities, the company is expected to reach out to more than one…

Spreading the value of insurance

Spreading the value of insurance

Spreading the value of insurance

According to the UN, there are some 500 million smallholder farmers in the world. In Africa around 80% of farmers operate on a very small scale, however the UN says these smallholder farmers produce up to 80% of the food consumed in Africa and Asia. Liz Booth reports on a new initiative that could help these farmers develop into commercial…

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

The Egyptian insurance industry has agreed a pioneering initiative to develop a national sustainable insurance strategy and action plan – described as a “roadmap” – by 2020. This roadmap aims to harness the triple role of the Egyptian insurance industry as risk managers, insurers and investors for economic, social and environmental sustainability. Insurance leaders and financial regulators, UN officials and…

Insurers must play a greater role in sustainable development

Insurers must play a greater role in sustainable development

Insurers must play a greater role in sustainable development

Climate change and sustainable development are two concepts that are yet to be fully understood by insurers, according to Saliou Ndoye, international environment governance specialist. At the international level of the green climate fund, only one reassurance company is accredited, which is Swiss Re. To match that level, insurers have to change the way they work . Mr Ndoye acknowledged…

Nigerian insurer wins approval to sell agriculture insurance

Nigerian insurer wins approval to sell agriculture insurance

Nigerian insurer wins approval to sell agriculture insurance

The Nigerian regulator has given Linkage Assurance approval to underwrite agricultural insurance. The ‘no objection’ nod from the National Insurance Commission will enable Linkage to support farmers and service providers in the agricultural value chain for greater sustainability and economic growth. The products approved include Linkage Assurance Crop Insurance Solutions, Linkage Assurance Farm All Risk Insurance, Linkage Assurance Farm Motor…

Shell oil case to continue for another year

Shell oil case to continue for another year

Shell oil case to continue for another year

A British judge has ruled that Nigeria’s Bodo community, which has been involved in a protracted legal battle with Shell over the cleanup of two 2008 oil spills, should retain the option of litigation for another year. According to reports from Reuters, lawyers for Bodo had accused Shell of trying to kill off the legal case by seeking a court…

Risk managers warned to factor climate change into all future scenario planning

Risk managers warned to factor climate change into all future scenario planning

Risk managers warned to factor climate change into all future scenario planning

Risk managers are being warned that climate change is already changing the litigation landscape across the world and that they must factor the risk into their planning to avoid an escalation in claims against their organisations, as Liz Booth reports Climate change is a fast-emerging risk that is impacting business in new and unexpected ways, which risk managers must factor…

West Africa’s Francophone farming industry

West Africa’s Francophone farming industry

West Africa’s Francophone farming industry

Abdou Diaw takes a look at the Francophone countries to see if the use of index insurance is working as an instrument to overcome climate risks and improve agricultural yields In Senegal, as in most African countries, the economy is characterised by a high proportion of agricultural activities that employ a large part of the population. Faced with the many…

Environmental and cyber risks rise to prominence in WEF’s 2018 risk report

Environmental and cyber risks rise to prominence in WEF’s 2018 risk report

Environmental and cyber risks rise to prominence in WEF’s 2018 risk report

Environmental and cyber risks are two of the most significant threats facing businesses and economies, according to the World Economic Forum’s (WEF) Global Risk Report 2018. The report, published today ahead of the World Economic meeting in Davos next week, highlights the growing importance of environmental and cyber risks, underlining the systemic natures of these threats. The WEF Global Risks…

Cotton insurance success for Senegal

Cotton insurance success for Senegal

Cotton insurance success for Senegal

Insurers are claiming success in Senegal after all cotton producers in Senegal subscribed to the first national index-based insurance policy. Distribution of the insurance was integrated into the agricultural input financing circuit, in the same way as fertilizers, with the assistance of the National Federation of Cotton Producers, the Textile Fiber Development Company and financial support from the Caisse Nationale…

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