Douala, 25 November 2020 ? According to the
Africa Insurance Pulse 2/2020, ?SGrowth perspectives of African
re-/insurance markets??, launched today by the Africa Insurance
Organisation (AIO), the COVID-19 pandemic posed severe challenges to
Africa?”s insurers. In response to the various types of lockdowns and
social distancing measures decreed by the African governments, they had
to assure continued customer service, staff health, adequate liquidity
management and operational resilience. For the remainder of 2020 and
2021, Africa?”s insurers expect further uncertainty, as they state in
this year?”s edition of the African Insurance Pulse, which Faber
Consulting conducted on behalf of the AIO. As in the past, this year?”s 5th
annual edition is based on diligent market research and in-depth
interviews with insurer, reinsurers and brokers operating in Africa. The
Africa Insurance Pulse 2/2020 is sponsored by Africa Re, the leading
pan-African reinsurance company and the largest reinsurer in Africa.
Jean Baptiste Ntukamazina, Secretary General of AIO, said: ?SThe
COVID-19 pandemic has caught the global insurance industry largely
unprepared. Those African insurance and reinsurance companies with a
strong capital base, and the ability to distribute their products
digitally were better equipped to weather the impact of the pandemic.
This will enable them to capitalise faster on the business opportunities
arising after the crisis.??