Nigeria a major step closer to joining ATI

Nigeria a major step closer to joining ATI

Nigeria a major step closer to joining ATI

The African Development Bank Group has approved a $14.12m facility to support Nigeria’s membership of the African Trade Insurance Agency (ATI). The deal, organised through its trade finance operations, is a critical and mandatory step to enable ATI to commence its operations in Nigeria, according to the bank. Nigeria, as Africa’s largest economy, joins 14 other African countries that have…

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber security is the top threat facing European businesses in 2018, followed by asset bubble and failure of national governance, according to a new report and survey from the World Economic Forum (WEF). Globally, cyberattack recorded a rise from eighth position to fifth place in 2018, but of the 19 countries where businesses ranked cyberattack as their number one risk over the next 10 years, 12 were in Europe…

Innovative insurance solution paves way for new Tanzania rail line

Innovative insurance solution paves way for new Tanzania rail line

Innovative insurance solution paves way for new Tanzania rail line

A new high-speed railway line project in Tanzania is to be supported by brokers Marsh, through a $95m innovative bank surety solution to Yapı Merkezi Construction and Industry Inc. The solution was structured in collaboration with the African Trade Insurance Agency (ATI) and is backed by the ATI’s treaty reinsurers (led by Munich Re) and a consortium of facultative reinsurers:…

Aon boosts M&A expertise for infrastructure clients

Aon boosts M&A expertise for infrastructure clients

Aon boosts M&A expertise for infrastructure clients

Aon has named Charlie Garrood as head of infrastructure M&A for the EMEA region. Mr Garrood joins Aon from PwC where he worked in corporate finance, advising clients on M&A and debt financing. Aon said the appointment will expand and deepen its M&A and transaction solutions service for infrastructure clients. “Infrastructure investors face unique challenges when executing M&A processes in…

Need for investment insurance to support African growth

Need for investment insurance to support African growth

Need for investment insurance to support African growth

The African Trade Insurance Agency (ATI) has urged Nigeria and other countries to focus on de-risking their economies to drive future investment growth. During its participation in Afreximbank’s 2018 Annual Meetings and 25th anniversary celebrations, Ade Ayeyemi, Ecobank’s Group CEO, warned that investors would run away from Africa unless adequate risk measures were put in place to address actual and…

Insurance has key role to play in PPP across Africa

Insurance has key role to play in PPP across Africa

Insurance has key role to play in PPP across Africa

Insurance should play a bigger role in enabling public-private partnerships (PPP) for major African infrastructure developments, according to a new report. How to conduct Public-Private Partnership and infrastructure transactions on the continent, produced by PPP expert Alexander Boadi, suggests insurers should consider partnering with the European Union (EU) as they plan to invest $40bn in Africa. The EU wants to…

New business rose across the world in 2017

New business rose across the world in 2017

New business rose across the world in 2017

New business grew across the world last year in almost all areas, according to the Berne Union. In its annual report,  launched this meeting at a meeting in Kenya, it reveals preliminary statistics which indicate that, as a result of favourable growth in global trade and GDP in 2017, Berne Union members reported an uptick in new business in almost…

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

European commercial rates fall despite first global increase for five years: Marsh

Global commercial insurance rates rose for the first time in five years during the last quarter of 2017, almost exclusively due to a rise in property premiums, according to Marsh’s Global Insurance Market Index. But while rates were up 0.9% in the UK, they fell by 1.1% on average in continental Europe despite the pace of decline slowing. Marsh said…

South Sudan becomes latest member country of ATI

South Sudan becomes latest member country of ATI

South Sudan becomes latest member country of ATI

South Sudan has now completed its membership of the African Trade Insurance Agency (ATI), while in his New Year message President Salva Kiir Mayardit emphasised the need to build a peaceful, prosperous, secure and stable country. With financial support from the African Development Bank (AfDB), South Sudan was able to complete its membership with an initial share capital subscription of…

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