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Sun,19Nov2017

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Jumpstarting Africa's insurance through talent and regulation

Delphine Maidou –‎Allianz Global Corporate & Specialty Africa’s chief executive. Photo©AllianzDelphine Maidou –‎Allianz Global Corporate & Specialty Africa's chief executive – is leading the company's new African expansion. In an interview with The Africa Report, Maidou spoke about her strategy and the challenges affecting the insurance sector in terms of talent and regulation.

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'Green fields' of insurance growth

Photo©ReutersAfrica's insurance markets are expanding more slowly than other emerging regions', but major groups are looking to enter new markets, which could speed things along.

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VIP service: More than meets the eye

Photo©Vincent Fournier For The Africa ReportThere is a powerful business case to treat all as VIPs. VIP customer service, and satisfaction, is the key strategic differentiator within the banking industry across Africa, writes Matt Bird, founder of Relationology.

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Old Mutual readies sale of Italian wealth unit

Financial services company Old Mutual is preparing to sell its Italian wealth management unit as part of a wider plan to break up its business, cut costs and revamp earnings, sources familiar with the matter said on Thursday.

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Insurance: South Africa's insurer MMI moots exit from some African markets

South Africa's No.3 insurer MMI Holdings could exit some markets elsewhere in Africa, its spokeswoman said on Friday, the latest company to scale back on the continent once at the heart of executives' expansion plans.

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Kidnapping cases pile pressure on African insurers

File photo©ReutersA spike in the number of kidnapping cases in Africa has forced insurance companies to step up crisis management coverage for their clients, a leading insurance expert has said.

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We have a strong skill set in Africa - Delphine Maidou

Chief executive, Allianz Global Corporate and Specialty AfricaAllianz's Maidou says insurance companies should remind corporate clients about the strength of capacity in africa and governments should protect local industries to drive growth.

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Nigeria: South Africa's Liberty to spend up to $80 million on two deals

Liberty Holdings plans to invest up to $80 million on two deals in Nigeria by year-end, as part of a five-year strategy by South Africa's No.4 insurer to expand further into sub-Saharan Africa, its chief financial officer said.

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Hospitality investments: AccorHotels in Africa expansion with Angola deal

Sebastien Bazin, Chairman and CEO of AccorHotels. Photo©ReutersAccorHotels has sealed a deal with Angolan insurance and investment company AAA Activos to open 50 hotels in the country by 2017, the French company said, as part of its expansion in Africa.

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An African insurance outbreak

ebola revealed the high cost of fighting an epidemic. Photo©John Moore/Getty ImagesAn African Union (AU) agency is pioneering a sovereign insurance policy for African governments seeking to protect against outbreaks of diseases such as Ebola.

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Islamic Insurance: Morocco adopts draft law to regulate takaful

Morocco's government adopted a bill on Thursday to regulate Islamic insurance, legislation that will face a final vote by parliament later this year, a cabinet statement said.

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Insurance: Future is micro and mobile

Planning your own funeral from an aubergine field has never been easier. Photo©SEYLLOU DIALLO/AFPTelecoms companies are redefining Africa's insurance landscape, using their brand recognition and wide customer reach to offer micro-insurance products to the tens of millions of uninsured Africans.

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Banking: Kenya's KCB group says sees more growth from diversified services

Kenya Commercial Bank Group expects growth in services like insurance, Islamic banking and mobile money transfer services to further boost its income, after posting a 12 percent rise in first quarter pretax profit.

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Islamic finance: Takaful market opened to conventional insurers in Kenya

Photo©ReutersKenya's regulator has introduced new takaful (Islamic insurance) rules which will allow the entry of conventional players into the sector, part of efforts to boost capital markets in East Africa's biggest economy.

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Africa looks to extend new disaster insurance to Ebola-like epidemics

African countries want to extend a new catastrophe insurance fund, which made its first payout of $25 million this month, to include protection against epidemics in the wake of the devastating Ebola outbreak.

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Insurance: Rising African incomes entice big players

Photo©ReutersA growing middle class in sub-Saharan Africa is enticing European and South African insurers to buy local firms focusing mainly on life insurance and pensions, in the face of mature markets and strong competition at home.

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Kenya: LeapFrog buys majority stake in Resolution Insurance

A George Soros and JP Morgan- backed private equity firm, LeapFrog Investments, has bought a majority stake in Kenyan insurer Resolution.

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Insurance: South Africa's Liberty eyes Ethiopia, Rwanda as Ghana deal nears completion

 Thabo Dloti Chief Executive, Liberty Holdings South African insurer Liberty Holdings is in the final stages of buying an asset management firm in Ghana and is also looking to Ethiopia, Rwanda and Nigeria for potential deals, its chief executive said on Wednesday.

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South Africa lists Nigerian, Kenyan and Zambian currencies on futures platform

South Africa's Johannesburg Stock Exchange (JSE), the largest and most liquid on the continent, listed three African currencies on a new foreign exchange futures platform on Friday.

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Uganda: Insurance firms restructure and competition intensifies

With a national insurance coverage rate of about 2%, insurance companies in uganda are restructuring their businesses and trying to take advantage of economic growth and the demand for services.

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