Santam pays record claims of R24.5 billion 0 Shares KEY HIGHLIGHTS OF RESULTS: Growth of 5% in conventional insurance gross written premiums to R32.7 billion Conventional insurance net underwriting margin of 8% Net investment income attributable to shareholders of R1.5 billion Economic capital coverage ratio of 169% (target range of 150% to 170%) Headline earnings […]
Tag: pan africa insurance
Santam’s profit rockets despite paying out R24.5bn in claims
South Africa’s largest short-term insurer, Santam, has reported that it paid out a record R24.5-billion for the year to December 2021, including catastrophe claims from large-scale fires, weather events that significantly affected agriculture, and floods in Gauteng and KwaZulu-Natal. At the same time, claims on the motor book and personal lines returned closer to pre-pandemic […]
SANLAM Scales Back On SAHAM Acquisition
Rabat – Africa’s largest insurance company SANLAM has dropped the bid to increase stakes in Morocco’s SAHAM insurance, according to a press statement released on January 4. Citing unmet conditions, the South African financial giant announced halting acquisition plans for an additional 22.8% of stakes in SAHAM. The press release , published by the Casablanca […]
Burundi Insurance Corporation(BICOR) celebrates the 30th Anniversary
Burundi’s Insurance Company BICOR ( BURUNDI INSURANCE CORPORATION ) celebrated on September 2, its 30th anniversary under the slogan: “Thirty years at BICOR is experience and innovation at the service of our customers”. It was an opportunity to present her innovative products: Family Pack, Transport Insurance Plan & Professional Insurance Plan. In his opening remarks, […]
Don’t wait for misfortune to sign onto insurance – Sunu Assurance CEO
Managing Director and Chief Executive Officer of Sunu Assurance, Mr Adeyemi Adetuwo The Managing Director and Chief Executive Officer of Sunu Assurance, a wholly-owned Pan-African Insurance Group, Mr Adeyemi Adetuwo is advising Ghanaians and Africans in general not to wait for misfortunes to befall them before they sign onto insurance policies. For him, insurance should […]
Allianz eyes lower premiums as Jubilee deal takes effect
Allianz Africa Regional CEO Coenraad Vrolijk on September 29, 2020 in Nairobi. PHOTO | NMG Global general insurer Allianz SE on May 4, 2021 completed the acquisition of majority stake in Jubilee General Insurance #ticker:JUB. Regional CEO for Allianz in Africa Coenraad Vrolijk spoke with the Business Daily on why the German insurer chose Kenya […]
Promised ‘synergies’ between Sanlam and Saham delayed
The insurance group’s priorities for 2020 had to be reviewed. © Naoufal Sbaoui – Mike Hutchings / REUTERS The pan-African insurance leader has managed to maintain its revenues despite the ongoing health crisis, but its margin is collapsing and the integration of Moroccan Saham’s African assets is dragging on. In the end, this is not […]
Pula wins big at Pan African insurance awards
Pula, a Kenyan tech firm with continental footprints has scooped the tech award at the 6th annual African Insurance Awards. The company was recognized for its role in managing over 4.3 million smallholder farmers through their Area Risk Index and yield insurance product. The company also bundles digital services, for instance SMS agronomy tips during […]
“We are leveraging Nigeria’s digital revolution to deepen insurance penetration” – Alero Ladipo of Old Mutual
As Nigeria joined the rest of the world to shut down to disrupt the rapid spread of the virus, the entire country retracted into the social network shells and embraced digital technology to keep their business running. The Nigeria Communication Commission reported that they observed an impressive spike in the number of active internet subscribers […]
Saham Assurance’s acquisition by Mauritian Insurance Company completed
NAIROBI, Kenya, Jul 10 – The Mauritian insurance company has completed the acquisition of Saham Assurance Company Kenya Limited, through its subsidiary MUA Insurance Limited Kenya. In a statement, the company says the transaction follows regulatory approval by the Insurance Regulatory Authority of Kenya, the COMESA Competition Commission and the South African Reserve Bank. The […]