July 5, 2024
Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the devastation the country suffered from an El Niño-induced drought. Finance Minister Mthuli Ncube told reporters on Thursday in …
May 20, 2024
Zimbabwe will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster …
May 7, 2024
The African Union’s climate insurance agency will pay out at least $60 million to four southern African nations to help them offset the impact of a drought that’s been driven by the El Niño weather pattern, its director general said. …
April 29, 2024
Africa Specialty Risks (ASR), the pan-African focused re/insurance group, has launched ASR Syndicate 2454 focused on underwriting business across Africa. It is the first African-focused syndicate writing business at Lloyd’s and is managed by Apollo. ASR Syndicate officially began underwriting …
November 9, 2022
A group of over 85 insurers in Africa has pledged to create a financing facility to provide $14 billion of cover to help the continent’s most vulnerable communities deal with climate disaster risks such as floods and droughts. The commitment …
June 10, 2022
Many of Africa’s biggest banks and insurers have joined forces to tackle the continent’s biodiversity crisis while at the same time working out how to cash in on opportunities arising from it. The African Natural Capital Alliance, launched Wednesday, is …
June 10, 2022
The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to …
June 7, 2022
Mauritius’s biggest insurer, having won a $10 million investment from France’s Proparco this month, is aiming for a 10% market share in a number of East African markets after outgrowing its Indian Ocean island home. MUA Ltd., which made acquisitions …
May 19, 2022
Allianz has acquired a 51% stake in Jubilee General Insurance Co. of Tanzania Ltd. from Jubilee Holdings Ltd. (JHL) and the Aga Khan Fund for Economic Development (AKFED). JHL will retain a 15% stake and six minority shareholders will maintain …
May 13, 2022
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, announced its energy division’s capacity increased to $38 million, provided through its ongoing relationship with GIC Re and Peak Re. This follows 12 months of profitable underwriting results for ASR’s energy …