Rwanda set fair for business growth

Rwanda set fair for business growth

Rwanda set fair for business growth

Strong governance, a conducive business environment and a stable macroeconomic performance have resulted in Fitch Ratings affirming Rwanda’s long-term foreign-currency Issuer Default Rating (IDR) at B+ with a stable outlook. Fitch added that the country is marked by high potential growth and relatively low inflation, against weak income and development indicators, twin deficits and high public external indebtedness. Fitch forecasts…

Risk managers need to embrace technology

Risk managers need to embrace technology

Risk managers need to embrace technology

Insurers and risk managers should immerse themselves in technology to help them anticipate and react to emerging risks in the virtual world, according to a new report. Published by Lloyd’s and futurist Amelia Kallman, the report suggests the increasing uptake of augmented reality (AR), virtual reality (VR) and mixed reality (MR) technologies by businesses, represents an opportunity for insurers to…

Energy, renewables and construction

Energy, renewables and construction

Energy, renewables and construction

The discovery of major deposits of both oil and gas off the shores of east Africa has created hopes of a new commodity bonanza for Africa. However, for the insurance markets to get involved there are some hurdles to overcome, as delegates at a recent roundtable organised by Commercial Risk Africa and sponsored by Clyde & Co discussed Africa has…

Tiered approach to African insurance regulation may be the way forward

Tiered approach to African insurance regulation may be the way forward

Tiered approach to African insurance regulation may be the way forward

Acknowledging the differing standards and capacity of insurance companies across Africa, delegates at a recent regulatory roundtable hosted by Commercial Risk Africa and sponsored by Axco Information Services, suggested a tiered approach as recently implemented in Nigeria could help the continent’s industry to grow The Nigerian regulator’s plan for a three-tiered system for insurer capitalisation has come under intense scrutiny…

East Africa moves one step closer to harmonised insurance regulation

East Africa moves one step closer to harmonised insurance regulation

East Africa moves one step closer to harmonised insurance regulation

This year’s Organisation of Eastern and Southern African Insurers conference in Tanzania highlighted growing demand for regional, if not continental solutions East Africa could soon have a harmonised insurance regulatory system, as the region’s governments move ever closer to an agreement. Speaking at the Organisation of Eastern and Southern African Insurers’ (OESAI) annual conference in Arusha, Samuel Mwiru, director –…

Time to join the conversation

Time to join the conversation

Time to join the conversation

Insurers have been too slow to join the conversation, both in terms of their own regulation and more widely in taking advantage of emerging opportunities, according to Lawrence Nazare, group executive director at Continental Re, who spoke to Commercial Risk Africa about the need for change Q: There has been much talk of harmonisation between insurance rules across Africa –…

A work in progress

A work in progress

A work in progress

Africa’s insurance markets are bouncing back from the bottom of the market cycle but, as delegates at the recent African Insurance Organisation’s Reinsurance Forum heard, there is much more to be done to create a dynamic but resilient market African insurance and reinsurance markets are making strides in terms of development, but there is still much more to do. Nearly…

Insuring the continent

Insuring the continent

Insuring the continent

Speaking to Commercial Risk Africa during the African Insurance Organisation’s recent Reinsurance Forum, Natalie Pakkiri and Kisnthrie Naidoo of Munich Re of Africa explain how regular and deep interaction with each local market is crucial to offer appropriate solutions During the African Insurance Organisation’s recent Reinsurance Forum, Commercial Risk Africa caught up with two of the speakers from Munich Re…

Emerging market risks rise

Emerging market risks rise

Emerging market risks rise

Recent months have seen increased volatility in emerging markets as foreign investors pull back from heavily indebted countries like Turkey, Argentina and South Africa. While a full-blown debt crisis looks unlikely, political risk in emerging markets is expected to heighten, driving increased demand for specialist trade credit insurance. With rising interest rates in the US, emerging markets have been finding…

ATI and African Development Bank complete $500m deal to open up African opportunities

ATI and African Development Bank complete $500m deal to open up African opportunities

ATI and African Development Bank complete $500m deal to open up African opportunities

The African Trade Insurance Agency (ATI) and the African Development Bank (AfDB) have completed a $500m credit insurance deal structured to cover a portion of the bank’s portfolio of non-sovereign operations in Africa. The transaction is expected to have an important demonstration effect to encourage similar institutions to invest more on the continent in the future, they said. The deal…