Africa
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Insurers welcome move to simplify policy language in Namibia
Insurers have welcomed the news that the Namibian finance minister has tabled a Financial Institutions and Markets (FIM) bill, which…
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ATI opens west Africa office
African Trade Insurance Agency (ATI) has opened a west Africa regional office, in Benin. The office launch caps a six-year…
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Nigeria’s insurance commissioner steps down
Alhaji Mohammed Kari has retired as commissioner of insurance in Nigeria, after the government failed to renew his contract. After…
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Willis buys Risk Capital Advisors in South Africa
Willis Towers Watson has bought Risk Capital Advisors (RCA), a specialist merger and acquisition (M&A) broker in South Africa, Australia…
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UN to work with Zimbabwe to reduce road risks
Zimbabwe’s economy is being held back by the high fatality rate on its roads, according to the United Nations’ (UN)…
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Private sector financing boost for AfCFTA trade
Governments across Africa have launched AfroChampions to secure private sector financing for the African Continental Free Trade Area (AfCFTA), after…
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Kenya Re’s profits fall after increase in claims
The Ethiopian Airlines plane crash and the Dusit terror attack resulted in a 48.57% spike in claims has resulted in…
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South Africa claims to lead the way in ERM
Some 88% of risk professionals in South Africa have reported that their organisations’ enterprise risk management (ERM) programmes are either…
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New initiative set to boost Senegal-UK trade
A new initiative has been launched to boost trade between Senegal and the UK and reduce the risks for investors…
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Tanzania plans boost for livestock insurers
Tanzania is considering introducing livestock insurance to promote local leather industries. The news emerged as the Tanzania Insurance Brokers Association…
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Zep Re names new board and makes internal changes
Nairobi-headquartered Zep Re has named a new board and made some internal senior management changes, in a bid to drive…
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S&P upgrades Munich Re of Africa
Reacting to the negative ratings watch on South Africa's issuer default rating, S&P Global Ratings has raised the rating of…
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Munich Re puts first-half nat cat losses at $15bn
Insured nat cat losses totalled $15bn in the first half of this year and were below the long-term average of…
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Ethiopia finally relaxes rules on foreign ownership of insurers
After years of waiting and hoping for change, insurers have welcomed the first sign of a shift from the Ethiopian…
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Fresh warning from ratings agencies on South Africa, as Fitch moves IDR to negative
Fitch Ratings has revised the outlook on South Africa's long-term foreign-currency Issuer Default Rating (IDR) to negative from stable and…
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Bad loans continue to impact risk appetite of Nigerian banking sector
Nigerian banks are struggling to deal with a high number of bad loans, but the government is pushing the sector…
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Insured H1 nat cat losses of $20bn lowest since 2006: Aon
Insured nat cat losses of $20bn in the first half of this year were 26% below the 18-year average of…
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Kenya’s finance minister denies corruption charges which name Italian construction firm
Kenya's finance minister Henry Rotich has pleaded not guilty to corruption charges involving construction of two dams and Italian company…
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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…
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Royal Exchange set to boost agriculture insurance in Nigeria
Nigerian insurer Royal Exchange General Insurance plans to boost its agricultural capacity after a deal in which the InsuResilience Investment…