Southern Africa
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Risk managers face capacity crunch in political violence and SRCC markets
Grievances tied to inequality, the cost-of-living crisis and broader disenfranchisement, combined with the lasting economic effects of Covid-19 and Russia’s…
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Aon appoints new CEO for South Africa
Dr Nolwandle Mgoqi has been appointed by Aon as CEO for South Africa. Former Aon South Africa CEO Terence Williams…
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Seven non-US cat events topped $1bn in insured losses last year, says CRESTA
Last year saw seven cat events outside of the US generate losses to the insurance industry in excess of $1bn,…
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African Risk Capacity launches parametric cover for epidemic risks
African Risk Capacity (ARC), the mutual created by the African Union (AU) to help member states better prepare for and…
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New chief executive of MNK Re’s South Africa branch
Specialist Lloyd’s broker MNK Re Group has appointed Vanida Pillay as the new chief executive of its South Africa branch.…
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Risk profession pays tribute to Gert Cruywagen
Commercial Risk is deeply saddened to hear of the passing of Gert Cruywagen, a great friend, true gentleman and tireless…
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South African climate body recognised as risk influencer
Recognising the increasing risk and danger that climate change is posing, the Institute of Risk Management South Africa (IRMSA) has…
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Global supply chain disruptions set to remain but South African exports likely to rise
Global supply-chain disruptions could remain high until H2 2022, amid renewed Covid-19 outbreaks around the world, China’s sustained zero-Covid policy,…
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A world of trouble for political violence insurers
The political violence insurance market, which covers businesses against damage caused by strikes, riots and civil commotion, is bracing itself…
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Guy Carpenter and Marsh to merge fac operations in South Africa
Guy Carpenter and Marsh, both subsidiaries of Marsh McLennan (MMC), are to combine their South Africa facultative reinsurance operations into…
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Ardonagh Group completes BGC Partners deal
Ardonagh Group has completed its $500m deal for the insurance operations of BGC Partners, which increases group revenues to $1.4bn…
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IRMSA warns of impending election risk in South Africa
The upcoming 1 November local government elections, another milestone in South Africa’s recent democratic history, are an event to be…
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Credit Suisse settles Mozambique bond probe for $475m
Swiss banking group Credit Suisse is to pay $475m to settle charges brought by both UK and US authorities over…
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Santam must cover 18 months of Covid-19 BI claims
South Africa's Supreme Court of Appeal has ruled that the country's biggest short-term insurer Santam is liable to cover the…
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Political risks rise up the risk list after South African riots
Political risks and violence are now ranked as a number five business risk in South Africa, as a new entrant…
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Sasria asks South African government for aid
Sasria, South Africa’s main insurer for strikes, riots, terrorism and civil commotion, has asked the government for a financial bailout…
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Swiss Re Corporate Solutions appoints CEO for South Africa
Terashni Pillay has been appointed as chief executive officer South Africa, Swiss Re Corporate Solutions, effective 1 November. She will…
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Sasria registers 95% of riot claims
Following the unrest across South Africa in July, Sasria said it is dealing with all the claims registered – some…
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Afghan crisis raises concerns in South Africa
The Taliban’s rapid takeover of Afghanistan has raised global risk antennae on several fronts and South Africa would do well…
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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…