African market News

Brokerslink Network Continues African Expansion with Tunisian Broker

Brokerslink announced a further expansion of its footprint in Africa with Tunisian brokerage Karé Kamoun becoming the latest affiliate to join the global broking business. The Tunis-based insurance and reinsurance broker, specializes in core lines of business in Tunisia including …

Brokerslink Network Strengthens African Presence with Broker in Republic of Congo

Global broking business Brokerslink has announced the addition of African broker Gramon to its international network. Based in Brazzaville, Congo, the broker strengthens Brokerslink’s presence in the Africa region, an area of strategic significance to the organization. Established in 2012, …

Largest African Insurer Sanlam Plans to Continue Growth via M&A

Africa’s largest insurer is getting breathing room to build on its biggest-ever acquisition and expand existing operations as rivals scale back on the continent and its main competitor squabbles with its fired CEO. Sanlam Ltd. last year spent about $1.1 …

Japan to Offer Enhanced Trade Insurance to Drive African Investment

Japan will offer enhanced trade insurance to boost private sector investment in Africa, Prime Minister Shinzo Abe said on Wednesday as his country competes with rival China for influence in the resource-rich continent. “Let me make a promise,” Abe told …

3 New African Affiliates Join Brokerslink Global Network

Global insurance broking business Brokerslink announced three new African affiliates have joined its global broker network bringing its presence across the Middle East and Africa region to 36 countries. The new affiliates are; Assureurs Conseil Réunis (C.R.) in Gabon Indian …

Brokerslink Expands in Africa with Addition of 8 Independent Brokers

Brokerslink announced the expansion of its global broker network, which includes eight independent brokers from Africa, a brokerage in Indonesia, two specialist wholesale brokers and two companies that focus on risk and insurance services. Zug, Switzerland-based Brokerslink said its new …

Largest African Insurer Sanlam Completes Acquisition of Morocco’s Saham Finances

Sanlam Ltd., Africa’s largest insurer by market value, said it fulfilled all the conditions for the $1.1 billion purchase of the shares it doesn’t already own in Morocco’s Saham Finances SA after regulators approved the deal. The Cape Town-firm’s biggest …

Sanlam Looks for More African Deals After $1.1B Investment in Morocco’s Saham

Fresh from sealing its biggest ever deal, Sanlam Ltd. is still scouring Africa for more acquisitions to extend its lead as the continent’s largest financial-services company outside of banking. The Cape Town-based insurer will spend $1.1 billion to take full …

Allianz Acquires Nigeria’s Ensure Insurance to Expand in Key African Market

Allianz Group announced a binding agreement to acquire 98 percent of Nigerian insurer Ensure Insurance Plc. from its core shareholder Greenoaks Global Holdings Ltd. Financial details of the transaction were not disclosed. Ensure Insurance Plc. offers life and non-life insurance …

Kenya’s CIC Expects Uganda, Malawi Units to Break Even in 2 Years

Kenyan insurer CIC Group expects its Uganda and Malawi businesses to break even in the next two years, its chief executive officer said on Thursday. The East African nation has a low rate of insurance penetration, with less than 10 …