4th Edition of the Africa Reinsurance Pulse – Africa’s reinsurers are concerned about lower profitability and an uncertain economic outlook
Zurich and Tunis, Tunisia, 30 September 2019 – The mood among Africa’s reinsurance executives has become more bearish as declining rates and rising claims weigh on the profitability of the African reinsurance markets with a current premium volume of roughly US$ 7.5 billion. While Africa’s economies are still recovering from the commodity crisis of 2016, which highlighted the continent’s vulnerability to external shocks, executives are once again concerned about the current outlook in light of renewed economic and political uncertainties. This is the main outcome of the 4th edition of the Africa Reinsurance Pulse, which was published at today’s 24th African Reinsurance Forum in Tunis, Tunisia. However, the senior executives of Africa’s leading brokers and reinsurers interviewed also expect that the inflow of excess capacity from advanced markets into the continent has finally come to a standstill. In fact, insured values as well as premiums might benefit from the current economic growth and outgrow GDP.
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