North Africa
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Africa Specialty Risks launches Bermuda reinsurer
Africa Specialty Risks (ASR), the pan-African reinsurance group, has launched a licensed reinsurance entity in Bermuda. The fast-growing group will…
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Tunisia erupts into political turmoil
Risk managers will be watching with mounting concern as Tunisia’s President has dismissed the Prime Minister, suspended parliament and declared…
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Marsh McLennan reports 20% higher revenue as staff move over from Aon-WTW
Marsh & McLennan reported a nearly 20% jump in revenue during the second quarter as economies continued to reopen after…
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Dutch risk managers focus on container claims as Ever Given finally released
Dutch risk managers focused on the fast-rising risk of containerships in light of the Ever Given catastrophe, during a recent…
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Ever Given finally released after settlement
The UK P&I Club, insurer of the Ever Given containership that catastrophically blocked the Suez canal back in March, has…
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Moroccan business set for rebound
Moroccan international trade is set to rebound this year after being stifled by the coronavirus pandemic, reports Atradius. The latest…
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Commercial rate hikes drive Q1 growth for Zurich
Zurich posted 9% growth in P&C gross written premiums on an adjusted basis to €11bn for Q1 2021, up 14%…
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Reinsurers braced for bulk of Suez Canal accident losses, reports Reuters
The bulk of losses caused by the Ever Given containership that blocked the Suez Canal for nearly a week is…
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Suez Canal blockage presents major lessons for Italian risk community
The beaching of the Ever Given, the cargo ship that ran aground in the Suez Canal, blocking the critical passageway…
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Morocco introduces travel ban on Algeria and Egypt to curb spread of Covid-19
Morocco has suspended all flights to and from Algeria and Egypt, as part of its efforts to curb the spread…
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Egyptian insurance market regulatory oversight improving says Fitch
Regulatory oversight in the Egyptian insurance market is developing with both limited transparency and effectiveness of enforcement, but the market…
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Middle East and north Africa face ‘double whammy’ from Covid and oil price slump
The coronavirus pandemic and related oil price slump constitute a “double whammy” for economies in the Middle East and north…
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Solid growth to continue for Maghreb insurance markets despite challenges, says Best
The insurance markets of the Maghreb region – Morocco, Algeria and Tunisia – have seen solid growth in the last…
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Brokerslink adds to African network with Tunisian broker
Brokerslink has expanded its footprint in Africa, with Tunisian brokerage Karé Kamoun becoming the latest affiliate to join the global…
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Africa sees first coronavirus case
The first case of coronavirus (Covid-19) has been found in Egypt, as a Chinese man returned to the north African…
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Optio expands political violence and terror offering through Newbridge acquisition
Optio, the London-based MGA formed though the merger of Ascent Underwriting, Cove Programs and broker Bay Risk Services in September…
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Tunisian insurer joins MAXIS Global Benefits Network
MAXIS Global Benefits Network (MAXIS GBN) has added a Tunisian insurer to the network. COMAR Tunisia has become the latest…
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MENA insurance market to see ‘flood of M&As’ in 2020
The MENA insurance market is expected to see a flood of mergers and acquisitions (M&As) in 2020, according to wholesale…
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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.…
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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…