The Gabonese Commercial Reinsurance Company (SCG-Re), a subsidiary of the Gabonese Strategic Investment Fund (FGIS), is expanding into East Africa, and to Tanzania in particular.
The protection gap in the agricultural sector in Africa has given rise to a new, innovative solution -- parametric insurance, says Mr JP Fabri, an economist and co-founder of the Malta-based advisory firm Seed Consultancy and MyUbuntu.
FBS Reinsurance Nigeria (FBS Re) has said that one of its functions is to combat capital flight in insurance and reinsurance businesses in the country and across Africa.
SUNU Group, a leading pan-African insurance and financial services group, has managed to have a Property and Casualty (P&C) company in 17 countries on the continent, says Mr Mohamed Bah, managing director of the group.
Out of 54 countries in Africa, 10 of them were big enough to receive a market ranking on Swiss Re Institute's 2023 World Insurance Report that was released earlier this month.
Angola is selling a stake in the country's largest insurer this year, as the oil-producing nation moves ahead with a privatisation programme to raise cash and diversify the economy, according to a Bloomberg report.
Global Parametrics, a CelsiusPro Group company, has partnered with One Acre Fund, an agricultural service provider offering financing and training to smallholder farmers, to provide financial protection to such farmers in Zambia and Malawi against the financial strain of losing their crops due to drought.
Hollard International, part of South Africa's largest privately owned insurance group, and Absa Group, one of Africa's largest diversified financial services groups, have reached agreement for the sale of Absa's insurance businesses in Mozambique, Botswana and Zambia.
Atlantique Assurance will offer accident insurance (100% coverage) and health insurance (80% coverage by the insurer and 20% by the insured) to all Bee motorcycle taxi drivers, announced the Cameroonian company Bee Group, engaged in motorcycle transportation and delivery services.
Mauritius-headquartered specialist reinsurance broker CG Re (Africa) has confirmed that it has established an office in London, its first outside Africa.