Allianz appoints two junior underwriters in South Africa

Allianz appoints two junior underwriters in South Africa

Allianz appoints two junior underwriters in South Africa

Allianz Global Corporate Specialty (AGCS) Africa has appointed Boitumelo Moate and Nomsa Mathega as junior underwriters in financial lines. Financial lines insurance addresses the liabilities of managers and professionals in today’s increasingly litigious and demanding business environment. Before joining AGCS Africa, Ms Moate worked as a junior cyber risks and commercial crime underwriter for a local insurer. She also worked in specialist…

South Africa facing tough economic conditions

South Africa facing tough economic conditions

South Africa facing tough economic conditions

The International Monetary Fund’s (IMF) latest assessment of South Africa’s economy projects real GDP growth will stay slightly below 2% in the medium term; not enough to increase living standards or make a dent in unemployment. Ana Lucía Coronel, who heads the IMF team for South Africa, warned: “Confidence among stakeholders has been weak during the last several years, leading…

C-suite and insurers should work together to focus on strong risk management

C-suite and insurers should work together to focus on strong risk management

C-suite and insurers should work together to focus on strong risk management

Risk managers and the c-suite must strengthen their risk management focus if they are to ensure their property portfolios remain insurable. Speaking at the African Insurance Exchange in Sun City this week, Belhassen Tonat, head of short-term insurance at Munich Re of Africa, warned some risks will become uninsurable, unless the c-suite invests in the basics. He said Munich Re…

South African risk managers must prepare for new normal of high insurance premiums

South African risk managers must prepare for new normal of high insurance premiums

South African risk managers must prepare for new normal of high insurance premiums

Risk managers have been warned property insurance prices will remain high for this year and most likely for the foreseeable future. Insurance players attending the African Insurance Exchange in Sun City this week confirmed the South African insurance market has turned for property risks and prices are on the rise. They also warned that some risks have become uninsurable. Although…

Marine insurance market preparing for Cape Town event

Marine insurance market preparing for Cape Town event

Marine insurance market preparing for Cape Town event

Marine insurers, together with the South African insurance industry, are preparing for the first International Union of Marine Insurers event in Africa. The conference is due to take place on 16-19 September in Cape Town. One of the local organisers, speaking at the African Insurance Exchange in Sun City yesterday, said registration numbers were looking good for the market’s first…

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally leads Lloyd’s South Africa office

Natasha Wally has been named as the new Lloyd’s South Africa country head and general representative. She moves from Swiss Re Corporate Solutions, where she has been country manager for the past three years. Before that, Ms Wally held roles within Zurich, Marsh and Guardrisk in an insurance career spanning the past 20 years. Ms Wally said her plans at…

Alton Byrd new Guy Carpenter South Africa CEO

Alton Byrd new Guy Carpenter South Africa CEO

Alton Byrd new Guy Carpenter South Africa CEO

Guy Carpenter & Company has promoted Alton Byrd to the position of CEO of the firm’s South Africa operations, with immediate effect. Most recently senior vice-president for treaty in the region, in his new role Mr Byrd will be responsible for overseeing all aspects of the ongoing management of the South Africa operations, as well as optimising the growth strategy…

South African risk managers facing death threats for doing their jobs

South African risk managers facing death threats for doing their jobs

South African risk managers facing death threats for doing their jobs

South African risk managers working in the public sector have reported receiving death threats “as part of daily life” if they try to suggest changes. Risk managers speaking at the Cruywagen-Institute of Risk Management South Africa annual Risk Lab admitted death threats had forced them to change cars and even jobs, while they also feared their families’ lives could be…

Cape Town risk-managed its water crisis, say local experts

Cape Town risk-managed its water crisis, say local experts

Cape Town risk-managed its water crisis, say local experts

Risk managers in the Cape Town municipalities have said the recent drought in Cape Town was a risk management success, as the city was able to cut back on water usage and avoid a shutdown of supplies. Speaking in Cape Town recently, a group of risk managers said the council policy of issuing ‘Day Zero’ ultimatums had the desired effect…

Chinese investors need to adopt good risk management practice when operating in South Africa

Chinese investors need to adopt good risk management practice when operating in South Africa

Chinese investors need to adopt good risk management practice when operating in South Africa

Some 20 years after China and South Africa opened diplomatic relations, China has become the country’s largest trading partner. However, a new report from Control Risks shows there are still some issues for Chinese investors. Bilateral trade grew 11.7% to $39.17bn in 2017 – just under a third of total China-Africa trade. Chinese foreign direct investment (FDI) into South Africa…

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