Heritage Insurance Company Ltd’s Post

The Competition Authority of Kenya (CAK) has approved the proposed acquisition of a 51% shareholding in Monarch Insurance by a consortium of three firms: Ondoba, Kenyoro, and Equico Thirteen. The transaction aims to drive business growth and expansion by enhancing operational efficiencies and executing a strategy led by the new shareholders. Monarch Insurance, based in Kenya, offers a range of composite insurance products, including general insurance, motor solutions, and life insurance. Read the full story here 👉 https://lnkd.in/ea-FaNPf #InsurtechInsights #InsuranceNews

My latest article includes a cheeky punt for my short-term insurance book, Everything you need to know about non-life insurance in South Africa.   I introduce the piece by commenting on the unique economic and regulatory challenges facing South Africa’s non-life insurance brokers – before offering my version of the "Magnificent Seven Risks" facing short-term brokers and intermediaries. These include:   1. Economics and politics: Brokers are grappling with economic pressures and political uncertainty, yet remain hopeful post-2024 elections. 2. Regulatory compliance: Compliance demands are straining resources, especially for smaller brokerages. 3. Capacity constraints: Limited risk capacity is forcing brokers to explore international markets and alternative solutions. 4. Evolving coverage: Increasing exclusions and limitations are complicating policy wordings and client communication. 5. Climate change: Systemic risks and extreme weather events are reshaping the market, with innovative solutions like parametric insurance gaining traction. 6. Growth and scale: Smaller brokers are struggling to remain competitive, with consolidation becoming a survival strategy. 7. Cautious optimism: A stable political outcome and resilient brokers are driving hopes for growth and innovation.   You can read more about these insights, lifted from the 2024 Stokes Media Broker Perception Survey, here: https://lnkd.in/dnwdnFVJ   To order your copy of my short-term insurance publication, visit https://lnkd.in/dr5EPe-M #InsuranceInsights #ShortTermInsurance #NonLifeInsurance #RiskManagement #InsuranceBrokers #FinancialServices

Do you want to save time and money on your property insurance in Rwanda? 💸 If yes, then you might want to work with a property insurance facilitator. 🤝 A property insurance facilitator is a professional who can help you find the best insurance policy for your property, negotiate the best rates, and handle the claims process. 📑 In this blog post, I share how a property insurance facilitator benefits you in Rwanda. 📝 You will learn how a property insurance facilitator can simplify your insurance journey, reduce your risks, and increase your savings. 🚀 If you are interested, please click on the link below to read the full article. 🙏 And don’t forget to share your thoughts and feedback in the comments section. 😊 #propertyinsurance #insurance #rwanda #blogpost #rwanda #linkedln Visit Rwanda Rwanda Diaspora Rwanda diaspora talent Click here to read full article: https://lnkd.in/dAxKaJy8

“Through such a structured product we are able to transfer insurance risk from the most remote parts of Africa into the first world capital markets through our global insurance and reinsurance structures," said Dr Mandega. “Understanding money is not just about economic prowess; it profoundly impacts every facet of our lives. It shapes our opportunities, choices, and aspirations," said Dorris Kirui #womenempowerment, #womeninbusiness, #womenentrepreneurs, #womenchangemakers https://lnkd.in/g67eZFGp

🔑 In uncertain times, like the drought Zambia recently faced, insurance provides a safety net for individuals and businesses alike. Whether you're a farmer, a business owner, or a family, insurance ensures you're ready for whatever comes next. Invest in resilience—ensure your business or farm is secure during uncertain times. #PreparednessAndResilience #StayResilient #YouAreInSafeHands #InsuranceWeek2024 #InsuranceForUncertainty #ProtectionForAll

Can South Africa’s #brokers, #FinancialAdvisers and #FinancialPlanners fill the growing #InsuranceGap … or is this just a crisis of affordability?   In my latest contribution to FAnews Magazine-Online, titled ‘Proactive #InsuranceBrokers can fill the R34 trillion insurance gap’, I share insights from #GroupRisk expert Anthony Miller, CEO of Simply.   The article begins:   “South Africa’s oft-celebrated #LifeInsurance penetration statistics hide an uncomfortable truth: far too much of the penetration is due to the country’s funeral policy obsession.   “These policies, usually sold to the poorest of the poor, are among the costliest available domestically measured on the cover obtained per rand in premium.   “This is why a growing cohort of insurance professionals view a gradual shift from retail #FuneralCover to group risk cover as a viable method for reducing South Africa’s life insurance gap.”   “My sense is that the way to solve [this cover gap] is by making group risk more broadly available, and to make it more flexible,” Miller said. All else being equal, he explained, “individuals can access better-value cover through their employers than they can on their own”.   You can read more about how much of the R34 trillion gap might be ‘plugged’ here: https://lnkd.in/dmbqvVkH   Sanlam; Momentum; BrightRockZA; Discovery Limited; 1Life Insurance; Clientele Limited #contentspecialist #contentstrategy #freelancewriter #thoughtleader

Snapshots of our team's participation in the 48th edition of the Annual General Assembly of FANAF (Federation of African National Insurance Companies) which was held under the theme: "Insurance in the service of economic and social development of Africa". #SMARTMS #FANAF2024 #insurance #mauritania

Big Congratulations to Stephen Alangbo, CEO of Cornerstone Insurance, for being recognized as one of Nigeria's Top 25 CEOs! His visionary leadership and dedication have truly elevated Cornerstone Insurance to new heights. Want to know how he’s leading the charge in the Nigerian insurance industry? Read the full story on our website for more details! https://lnkd.in/dUAcMbas _ #insurance #Insure_Africa #Insurancenews #Insuranceblog #insureafricagist #insurancegist #insuranceforum

Africa's insurance penetration is among the lowest in the world. Trust, poverty, and religious beliefs all play a role in limiting adoption. But bundled insurance, championed by Pula and Etherisc, shows that embedding insurance into everyday products can increase access. Could this approach redefine insurance in Africa? https://lnkd.in/dkPbY2DD

It has been a while since I have covered a #GeneralInsurance topic; in the accompany post (and linked article) I contemplate the evolving #riskmitigation and #RiskTransfer landscapes... And how these shifts are impacting non-life insurer profitability.