Allianz Africa COO appointed president of the AIO

Allianz Africa COO appointed president of the AIO

Allianz Africa COO appointed president of the AIO

The African Insurance Organisation (AIO) has named Delphine Traoré as its new president. Ms Traoré is Allianz Africa’s chief operations officer (COO) and has served as vice-president of the AIO since 2018. She takes over from managing director of Ghana Union Assurance, Arethu Duku. The announcement was made at the AIO’s 46th conference and annual general assembly, held at Emperors…

George Otieno suspended by ATI

George Otieno suspended by ATI

George Otieno suspended by ATI

George Otieno, former CEO of Africa Trade Insurance Agency (ATI), has been suspended with immediate effect by the board of directors of the ATI. John Lentaigne, ATI’s chief underwriting officer, has been appointed acting CEO. The ATI explained: “This [follows] Mr Otieno starting court proceedings against ATI in relation to his employment contract, which makes his position untenable as the…

Mozambique cyclones hit hard

Mozambique cyclones hit hard

Mozambique cyclones hit hard

Few countries in Africa have encountered and withstood such difficult weather-related and destabilising events as Cyclone Idai and Kenneth. Officials said they were unable to respond to the challenging circumstances that resulted from unprecedented damage caused by back-to-back cyclones. Institutional weaknesses further magnified these problems: lack of an advance evacuation plan, low insurance coverage for properties, lack of resources, poorly…

Insurance winners named at AIO

Insurance winners named at AIO

Insurance winners named at AIO

Yared Mola, of Nyala Insurance in Ethiopia, has been named CEO of the Year in the Africa Re Insurance Awards. Presented at the African Insurance Association general assembly in Johannesburg this week, Mr Mola is CEO of Nyala Insurance, a company incorporated in 1995 as the Ethiopia insurance market was liberalised. Insurance Company of the Year went to Mohandes Insurance,…

New leadership programme for Africa

New leadership programme for Africa

New leadership programme for Africa

Reinsurer Munich Re of Africa (MRoA) has launched an innovative leadership development programme for Africa. The move comes just as the Risk Frontiers Africa 2019 survey reveals that skills and talent risk is once again seen as an increasing risk across the continent. At a dinner to coincide with the 46th African Insurance Organisation Conference and Annual General Assembly, taking place…

Need to drive insurance into new African markets

Need to drive insurance into new African markets

Need to drive insurance into new African markets

Insurers have recognised the need to spread insurance into new African markets, delegates at the African Insurance Organisation (AIO) annual conference heard. Thusang Mahlangu, Allianz Global Corporate & Specialty Africa CEO, said: “The majority of individuals and businesses in Africa are not insured or are underinsured. That’s why we have partnered with the AIO for this conference, to explore ways…

Insurers condemn Nigerian regulator move to raise capital requirements

Insurers condemn Nigerian regulator move to raise capital requirements

Insurers condemn Nigerian regulator move to raise capital requirements

Chief executives of insurance companies and shareholder groups have condemned Nigeria’s National Insurance Commission (NAICOM) for increasing the capital base of general insurers to NGN10bn for general insurers and NGN18bn for composite firms. The new requirement for life insurance companies is NGN8bn, while for reinsurance firms, the new capital level is NGN20bn. The move follows a similar attempt by the…

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb has launched the Chubb Travel Smart app for business travellers, to help manage risks for employees. The South Africa-based insurer said Chubb Travel Smart is the company’s duty of care solution designed specifically for employees to help manage and mitigate risks as they travel for work. It provides a range of benefits for business travellers, including pre-travel eLearning, direct…

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Zimbabwe insurers call for public inquiry as policyholders struggle with inflation

Insurers in Zimbabwe have warned parliament that it needs to launch a new commission of inquiry to establish the value of insurance policies between 2016 to date, as they have been eroded by inflation. The problems with inflation are affecting both the general insurance market and the life sector. A commission of inquiry had already been launched to determine the…

Looking to the future

Looking to the future

Looking to the future

Across the world, the issue of sustainability and particularly of how to tackle climate change, has risen up the agenda fast this year. As Liz Booth reports, protests in the developed world have brought the climate change issues to the fore once more but it is in the less developed parts of the world, notably Africa, that the physical effects…