Africa flies in face of globalisation with more protectionist measures

Africa flies in face of globalisation with more protectionist measures

Africa flies in face of globalisation with more protectionist measures

The rise of protectionism topped the agenda at the recent Federation of Afro-Asian Insurers & Reinsurers (FAIR) conference in Morocco. According to Dermot Dick, head of treaty production at New Dawn Risk: “Despite the seemingly unstoppable rise of globalisation, we have seen increased signs of protectionist policies being implemented in Africa and Asia, and some major countries that wish to…

Political risks still threaten trade in north Africa

Political risks still threaten trade in north Africa

Political risks still threaten trade in north Africa

Political unrest and the risks around forthcoming elections top the risk list in a new report on north Africa by credit insurer Atradius. Darren Power, northern regional manager for Atradius, said: “In a global economy where uncertainty seems to have become the norm, knowledge is critical. Trading briefs and insights into the performance and intricacies of overseas markets are essential…

European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

British Airways (BA) and Lufthansa suspended flights to Cairo, after warnings of escalated terror threats to the Egyptian capital, particularly for aviation. Lufthansa has now resumed flights but BA has said it will reconsider flights after a further week of suspension. BA said it made the move as a security “precaution” but gave no details. A BA spokesperson said: “We…

Moroccan companies still behind on payments

Moroccan companies still behind on payments

Moroccan companies still behind on payments

Companies in Morocco are still late on payments, creating added risks for business in the north African country. According to credit insurer Coface, payment terms in Morocco show a situation that remains worrying despite a slight improvement. In its fourth survey on the payment behaviour of companies in Morocco, carried out at the beginning of 2019, it reveals that contractual…

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”…

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…

London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

The London Market Group (LMG) has called on the UK Government to be “proactive in opening up international insurance markets based on mutual market access, home-state supervision and no host-state financial requirements”. The LMG said it has identified a number of priority markets that it will seek to work on with the Treasury and the Department of International Trade. Malcolm…

North African countries need to work together

North African countries need to work together

North African countries need to work together

Technological and geopolitical forces are reshaping regional landscapes, according to the World Economic Forum (WEF), which has urged north African countries to work together. The Middle East and North Africa Risks Landscape briefing paper warns that the technological breakthroughs of the Fourth Industrial Revolution are bringing opportunity but also risk for those unprepared to adapt. At the same time, fractures between…

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

A new political risks insurance consortium has been established in London, with Lloyd’s insurer Neon as the lead and MS Amlin becoming a joint agreement party. The London Political Risks Insurance Consortium has been created in response to increased levels of political uncertainty across the globe, which have triggered demand for political risks insurance coverage at scale, according to Neon.…

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Trade credit insurer Atradius has put Morocco in its top five most-promising emerging markets for 2019. In its Promising Emerging Markets Economic Research Report, Atradius states: “While the Middle East and North Africa is experiencing subdued growth, Morocco is bucking the trend with GDP growth forecast at 3.3% thanks to a cyclical upturn in agricultural production, as well as stronger non-agricultural…

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