Insurance |

The Development of Capital Markets in Sub-Saharan African From an Insurance Perspective

LAGOS (Capital Markets in Africa) – When we talk about growth in Africa and all its opportunities and challenges, we probably do not relate this to insurance. When I think back to my old days at school, insurance was something for risk-averse people and probably had little to contribute to growth and development. This article argues that the impact of insurance on growth is indeed significant, but that this impact could be even stronger if…

Allianz Maroc announces management change

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Casablanca, December 11, 2017 – Dirk De Nil, CEO of Allianz Morocco has decided to step down from his current role for personal reasons on 7 December 2017. Coenraad Vrolijk, will assume the role of Interim CEO of Allianz Morocco, in addition to his current responsibilities as Regional CEO Africa of Allianz. With over 25 years of insurance experience, Dirk De Nil came to Morocco in 2014 to lead Zurich Assurances Maroc until the company was…

Congo Suspends Insurance Regulator Head, Stymying Industry Plans

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo suspended the head of the newly established insurance regulator for financial mismanagement, dealing a setback to the long-awaited liberalization of the industry. Finance Minister Henri Yav Mulang wrote to Insurance Regulatory Authority Managing Director Eric Mboma on Oct. 7 informing him that an audit had found him “guilty of several acts characteristic of bad management.” The findings were likely to result in disciplinary action,…

Congo Regulator to Open Up $500 Million Insurance Industry

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo’s insurance regulator is preparing to open up an industry for the first time that could be worth as much as $500 million a year to investors. The newly created Insurance Regulatory Authority, known by the French acronym ARCA, received interest from at least 16 companies after requesting letters of intent in June, Managing Director Eric Mboma said, declining to identify individual firms. It will seek…

Alexander Forbes Targets 12% Profit Growth Over Next Five Years

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JOHANNESBURG (Capital Markets in Africa) – Alexander Forbes Group Holding Ltd., a South African provider of retirement, investment and insurance services, plans to as much as double the pace of profit growth over the next five years. The company is targeting an increase in operating profit of 10 percent to 12 percent until 2022, compared with average growth of 6 percent between 2013 and 2017, Chief Executive Officer Andrew Darfoor said in a presentation in Johannesburg on Wednesday….

Nigerian Insurance Industry: Overview, Challenges and Opportunities

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Despite the lingering apathy for Insurance by the Nigerian populace, driven largely by cultural & religious beliefs, the Industry remains resilient, recording a compounded annual growth rate (CAGR) of 10.2% in gross premium Income (GPI) since 2012. In 2016, the Industry’s GPI grew by an estimated 10% to ₦356 billion[1]. Growth was upheld by the enforcement of compulsory insurance policies, particularly in the group life and motor insurance business lines. However, the Industry’s performance was…

The Promise of Blockchain in Insurance

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LAGOS (Capital Markets in Africa) – Blockchain has huge potential to enhance insurers’ business model and to improve cooperation between insurance companies but is also being used by digital start-ups to attack it. Hence, the imperative for Incumbents to start exploring this nascent technology.Many have likened the revolutionary possibilities of blockchain technology to those of the internet, such is its perceived capacity to transform the ways in which people and businesses cooperate. Sensing this, investors…

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