ATI secures A3 IFS rating from Moody’s

ATI secures A3 IFS rating from Moody’s

ATI secures A3 IFS rating from Moody’s

The African Trade Insurance Agency (ATI) has secured an A3/stable insurance financial strength (IFS) rating from Moody’s, based on its strong capitalisation and liquidity, among other criteria. The rating stands alongside S&P’s A/stable rating, which ATI has maintained for more than a decade. Securing a second rating is part of ATI’s medium-term strategy to further strengthen its governance and oversight…

Risk managers watch as Ramaphosa wins in South Africa

Risk managers watch as Ramaphosa wins in South Africa

Risk managers watch as Ramaphosa wins in South Africa

Risk managers will be watching to see the political fallout after Cyril Ramaphosa and the incumbent African National Congress (ANC) party won elections in South Africa – but with its worst result since the end of apartheid. The victory gives President Ramaphosa another five years in office but observers warn the party’s poor result will make it difficult for him…

New microinsurer for Nigeria

New microinsurer for Nigeria

New microinsurer for Nigeria

Nigeria’s National Insurance Commission has granted approval to Casava Microinsurance to operate as a state composite microinsurer. With this approval, Casava Microinsurance will be transacting life and general microinsurance business in Lagos state only. Salami  Rasaaq, head of the commissioner’s directorate, said in a statement that Casava Microinsurance is one successful company among several applications received by the commission, from…

Don’t forget – you could win a trip to Europe!

Don’t forget – you could win a trip to Europe!

Don’t forget – you could win a trip to Europe!

The 2019 Risk Frontiers Africa survey of risk managers across Africa is now open with a quick electronic questionnaire – and every completed entry will automatically qualify for a draw for one lucky person to win a trip to Europe to attend a key risk management event hosted by Commercial Risk Europe. Covering political risk, cyber threats and the new…

Financial crime compliance driving ESG scores

Financial crime compliance driving ESG scores

Financial crime compliance driving ESG scores

Environmental, social and governance (ESG) risk is highest for banks in Asia-Pacific emerging markets, followed by emerging markets in the Americas, the Middle East and Africa, according to a new report from Fitch Ratings. It reveals that financial crime compliance and conduct issues drive the highest-impact ESG relevance scores for bank credit ratings in developed markets. The report notes that,…

Drive to promote blue economy across Africa

Drive to promote blue economy across Africa

Drive to promote blue economy across Africa

African businesses are being challenged to wake up to the economic, social and environmental power of the ‘blue economy’. Momentum is gathering for companies based in Africa’s coastal nations to fully recognise and understand the benefits of backing a blue economy, which covers a wide range of productive sectors that are crucial for the continent’s sustainable development, including fisheries, aquaculture,…

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

The Egyptian insurance industry has agreed a pioneering initiative to develop a national sustainable insurance strategy and action plan – described as a “roadmap” – by 2020. This roadmap aims to harness the triple role of the Egyptian insurance industry as risk managers, insurers and investors for economic, social and environmental sustainability. Insurance leaders and financial regulators, UN officials and…

Afro-Asian Insurance Services hires Ahmad from GIC Re

Afro-Asian Insurance Services hires Ahmad from GIC Re

Afro-Asian Insurance Services hires Ahmad from GIC Re

Afro-Asian Insurance Services has appointed Zeeshan Ahmad as senior reinsurance officer. He joins from GIC Re Group, where he was chief underwriting officer of its South African subsidiary, before moving into his most recent role of treaty underwriter for international business at GIC Re’s head office in Mumbai. Mr Ahmad was responsible for the establishment of GIC Re’s operations on…

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

A serious academic study on the negative impact of inconsistent and protectionist insurance regulation around the world is likely needed if the international risk and insurance management community is to convince regulators of the need for reform from the top down, according to the chair of the International Federation of Risk & Insurance Management Associations (Ifrima). Mary Roth, who is…