Friday, May 30, 2025
24.4 C
Lagos

Africa Insurance Market: Low Commodity Prices, Political Uncertainty as Challenges

For almost two decades, growth in the insurance markets of Sub-Saharan Africa has been buoyed by the continent’s economic boom.
With average growth in gross domestic product (GDP) across the region far outpacing much of the developed world, the African continent has presented an extremely attractive environment for domestic, regional and international investors seeking to enhance returns.
However, the fallout from low commodity prices, the slowdown of China’s economic activity and the impact of monetary tightening by the U.S. Federal Reserve are just a number of global issues that threaten to stall growth and stability, and in turn, likely will compromise the development and financial strength of insurance markets across the continent.
In its new Best’s Special Report, “Africa’s Insurance Market Prospects Threatened by Low Commodity Prices and Political Uncertainty,” A.M. Best believes that the balance sheets of (re)insurers are exposed to material volatility arising from the uncertain landscape.

spot_img
spot_img
spot_img

Hot this week

2nd Year Anniversary: Tinubu Hails NASENI’s Contributions to National Economy

A special recognition of excellent performance toward fulfilling Federal...

AIICO Insurance Brings Joy, Hope to Visually Impaired Children on Children’s Day

In commemoration of this year’s Children’s Day, AIICO Insurance...

Orange Corners Nigeria Secures Financial Sponsorship from Stanbic IBTC

(From L-R: Michel Deelen, Consul General, Kingdom of the...

NGX CEO, Temi Popoola, Urges Policymakers, Development Stakeholders to Rethink Africa’s Growth Model

Temi Popoola, Group Managing Director and Chief Executive Officer...

PenOp Appoints Anthonia Ifeanyi-Okoro as Chief Operating Officer

The Pension Fund Operators Association of Nigeria (PenOp) is...

Topics

PenCom: Pension Assets Hit N17tr in June 2023

The National Pension Commission (PenCom) has put pension assets...

GTBank Fashion Weekend 2018 Set for November 10

From Saturday, the 10th to Sunday, the 11th of...

Linkage Assurance CFO Becomes Pioneer Chairman of ICAN-NIA Chapter

L-R: Bola Odukale, Director-General/CEO, Nigerian Insurers Association (NIA); Etofolam...

Polaris Bank Partners EAS, Funds Training of 1000 Nigerian SMEs on Export to US, Europe

Polaris Bank, in its show of commitment towards empowerment...

Royal Exchange General Insurance Rebrands, Unveils New Identity, Promises Better Deal for Policyholders

Royal Exchange General Insurance Company (REGIC), one of Nigeria’s...

Adeosun: FG Committed to Infrastructure Development

The Minister of Finance, Mrs. Kemi Adeosun has told...

NNPC Committed to Building Huge Oil, Gas Infrastructure to Make Sector Thrive

NNPC Limited's Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan...
spot_img

Related Articles

Popular Categories

spot_imgspot_img