Moody's Ratings (Moody's) has changed the outlook on state-owned Namibia National Reinsurance Corporation (NamibRe) to 'Positive' from 'Stable'. Concurrently, Moody's has affirmed NamibRe's 'B1' insurance financial strength rating (IFSR), as well as its 'b1' Baseline Credit Assessment (BCA).
The Namibia Special Risks Insurance Association (Nasria) is set to introduce Weather Index Based Livestock Insurance (WIBLI).
Namibia Special Risks Insurance Association (NASRIA) will launch a farmers' insurance scheme in October, to protect farmers against loss of livestock or crops due to drought, flood, or wild animal attacks, among other things.
Five out of nine countries in Africa posted real growth of at least 7% in terms of premium income in 2021, according to data compiled by Swiss Re Institute.
Sanlam-already the largest non-banking financial services company in Africa-and Allianz, one of the world's leading insurers, have agreed to combine their operations across Africa to create the largest pan-African non-banking financial services entity on the continent.
The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have announced the scrapping of a requirement for single credit insurance policy to be assigned to one loan or credit facility.
A local specialist insurer is seeking to expand to the agricultural sector, to protect herders and farmers affected by natural disasters such as drought.
The Namibia Special Risks Insurance Association (Nasria), a state owned insurer, plans to roll out more locally responsive insurance products in the near term - a move that is set to shake up the sector.
The Namibia Financial Institutions Supervisory Authority (Namfisa) says that it has halted its investigation into a multimillion-dollar insurance dispute between Gondwana Collection and Hollard Insurance Namibia because the case is now before the High Court.
The short-term insurance industry posted a profit before tax of N$639.4m ($43m) for the year ended 31 December 2019, representing a decline of 3.6% over 2018, according to the latest annual report of the Namibia Financial Institutions Regulatory Authority (Namfisa).