East Africa
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New insurance solution for water risks launched
Global Parametrics (GP), a provider of parametric protection against climate risks in emerging markets, has structured two risk transfer solutions using a Water Balance Index (WBI), to enable partners…
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Nigerian curfews extending as protests spread
Nigeria has extended curfews beyond the city of Lagos as anti-riot officers struggle to quell violence following protests against police…
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Nigerian insurance market offers potential despite challenges
Nigeria's substantial oil and gas reserves, its young and growing population, and its position as Africa's largest economy continue to…
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Jubilee and Allianz announce strategic partnership
Jubilee Holdings Limited (JHL), east Africa’s largest insurance group, and Allianz, one of the world's leading insurers and asset managers,…
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Fresh hope for Nigeria Reinsurance Corporation as new MD emerges
Nigeria Reinsurance Corporation has appointed Akinsola Ale as the new managing director, following confirmation by the National Insurance Commission (Naicom).…
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Data key to African insurers’ sustainability
Data and the use of information will be critical for insurers’ sustainability, delegates at a recent webinar heard. Zep Re…
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Kenyan companies warned that banks are preparing for bad loans
Company defaults on debt are expected to surge in Kenya as the Covid-19 pandemic hits the east African economy hard.…
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Covid-19 increases corporate exposure to modern slavery, finds Maplecroft index
The economic fallout from Covid-19 will increase the risk of modern slavery seeping into supply chains, warned Verisk Maplecroft in…
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New deputy commissioners appointed for Naicom
Nigerian President Muhammadu Buhari has approved the appointments of Alhaji Sabiu Bello Abubakar and Oba Olufemi Oluniyi as deputy commissioners…
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Risk managers face uncertainty over reopening of Kenyan economy as infections spike
A cloud of uncertainty hangs over Kenya’s economy after Covid-19 infections began to spike, dashing hopes of a quick end…
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Pandemic a wake-up call to businesses to build resilience
Risk managers cannot expect insurers to offer them pandemic cover right now, a Nigerian insurer has warned. Speaking on a…
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Emerging markets face ‘unparalleled’ civil unrest as pandemic takes toll, warns Maplecroft
Some 37 countries are at risk of major civil unrest before the end of 2020 as the economic fallout from…
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Risk management key to tackling water scarcity
Risk management has a key role to play as the world grapples with water scarcity, according to Dr Caesar Mwangi,…
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Locusts adding to economic risks in east Africa, warns Fitch
Those involved in the agriculture sector could face tough times in east Africa as the peak season looms and now…
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Nigeria delays insurance recapitalisation plans
The Covid-19 pandemic has forced the Nigerian insurance regulator, Naicom, to delay plans to raise minimum capital requirements for all…
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Ugandan insurance market hit hard by Covid-19 despite growth in 2019
Uganda’s insurance sector has posted positive industry results for 2019, with the gross written premium standing at USh973.58bn compared to…
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Sanlam buys remaining stake in FBN
Pan-African insurance group Sanlam has acquired a remaining stake in Nigeria's FBN Insurance (FBNI) from its partner, FBN Holdings Plc,…
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OPEC moves likely to hit Nigerian economy hard, warns Fitch
Nigeria’s adherence to oil production cuts under the OPEC+ agreement will lead to deeper economic contraction and fiscal deficits and…
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New reinsurer set for the Seychelles
A new reinsurer is set to emerge in the Seychelles to cater for local business and support the islands’ growing…
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US hands more than $311m of stolen assets back to Nigeria
The US Department of Justice has transferred $311,797,876.11 of stolen assets to the Nigerian government, forfeited from former Nigerian dictator…