• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Tuesday, June 6, 2023
  • Login
  • Register
Business Post
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

African Reinsurers Raise Reinsurance Accelerated Integration Flag For Successful Free Trade

Staff Reporter by Staff Reporter
November 30, 2021
in Insurance
0 0
0
Image Spin: Smart Ascends The Throne Of African Insurance As AIO 47th President
0
SHARES
30
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Africa’s ready to rollout economic growth booster, the African Continental Free Trade Area AfCFTA continues the upward swing at another ongoing continental forum by African Insurance Organisation in Kigali, Rwanda, where reinsurers project the optimistic future of insurance and reinsurance in the single market perfected in the AfCFTA agreement.

Welcoming delegates to the 25th African Reinsurance Forum, the AIO president, Mr. Tope Smart (pictured), said the theme of the forum, Insurance Integration in the Context of the African Continental Free Trade Area, fits into the African Insurance Pulse current edition, a research publication of the AIO which carried out an extensive study on the African Continental Free Trade Area with firm conclusions that the successful implementation of the agreement will benefit all markets.

Smart who is group managing director at NEM Insurance Plc, told attendees at the forum that got underway November 27 and to close December 1, that the reinsurance forum gives the African reinsurers another opportunity to examine some of the continent’s inherent reinsurance challenges and create solutions with the theme in mind.

Up and until now, he said the forum’ goal to encourage the exchange of business through bilateral contacts and discussions has enabled a lot of exchange of business among African industry practitioners, “but there is still much room for further deepening of the business exchanges.”

Seeing beyond the current levels of exchange, AIO president said the roll out of the AfCFTA will not be a threat to business but opens the door of optimism about the future captured in the continental trade agreement. This expectation he explained, is shared by many African reinsurers and global and regional insurers and reinsurers who believe that the insurance pie will grow with the single market, “facilitating the expansion beyond their current reach of active markets. Reinsurers that are active primarily in one or a few markets see this as a unique opportunity to diversify their their risk portfolio.”

African Reinsurance Forum, Kigali, Rwanda.

Relying on the feed from African Insurance Pulse, Smart said said it is hoped that in the long term the successful implementation of AfCFTA will benefit all markets. “In the short to medium term, however, they expect that the large markets such as South Africa, Morocco, and Kenya will benefit most.”

AIO president stated that trade agreement is the smart way to reduce tariff and non-tariff barriers, free movement of people and labour, capital, right of residence, right of establishment and investment, reiterated the agreement will create the largest free trade area in the world measured by the number of countries participating.

Building on that Smart said, “The pact connects 1.3 billion people across 55 counties with a combined gross domestic product (GDP) valued at US$3.4 tr according to the African Union. It has the potential to lift 30 billion people out of extreme poverty but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.”

Previous Post

Active Funds Roar, Retiree Funds Others Settle For Unencumbered Investment

Next Post

FGN Bonds, Equities & Contributions Give Enhanced Growth To Q2 Report

Staff Reporter

Staff Reporter

Related Posts

Startup Showcase: ZIPHII LTD – Revolutionising Digital Experience Platform For Businesses
Insurance

Economy resilient to cyber attacks, but threat persists

June 6, 2023
Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report
Insurance

Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

June 1, 2023
GNI Trashes Report It Has Surrendered Its Annuity Business
Insurance

GNI Trashes Report It Has Surrendered Its Annuity Business

May 31, 2023
Next Post
PenCom Logo

FGN Bonds, Equities & Contributions Give Enhanced Growth To Q2 Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
ILAN Picture

Loss Adjusters Receive Charge To Match Speed Of New Developments

July 30, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
ncrib logo

NCRIB And Universal In Pictures

August 23, 2020
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
NCRIB Sets The Stage For Adaramola’s Tenure

NCRIB Sets The Stage For Adaramola’s Tenure

March 18, 2021
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
PenCom Approves Mrs Okwuosa New Access Pension Fund Custodian MD

PenCom Board Back-To-Work Pass, Gets Tick Over

February 1, 2021
Startup Showcase: ZIPHII LTD – Revolutionising Digital Experience Platform For Businesses

Economy resilient to cyber attacks, but threat persists

0
Lloyd's of London building

Lloyd’s Of London Selects New International Chief Financial Officer

0
old mutual logo

OLD MUTUAL Appoints Permanent Head

0
AIICO donating masks

AIICO Donates Reusable Masks

0
AIICO Seeks NSE’s Nod To Conduct  Rights Issue

AIICO Seeks NSE’s Nod To Conduct Rights Issue

0
Fire Tops STI N2.7bn Claims In 2019

Fire Tops STI N2.7bn Claims In 2019

0
AIICO Pays N2.7bn In 21 Days Of Lockdown

AIICO Pays N2.7bn In 21 Days Of Lockdown

0
NAICOM Segments Recapitalisation Process Into Two Phases

NAICOM Segments Recapitalisation Process Into Two Phases

0
Leadway Calibrates Service By Claims Payment

Leadway Calibrates Service By Claims Payment

0
AIICO Head office

AIICO Releases 2020 Q1 Results

0
Startup Showcase: ZIPHII LTD – Revolutionising Digital Experience Platform For Businesses

Economy resilient to cyber attacks, but threat persists

June 6, 2023
Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

June 1, 2023
GNI Trashes Report It Has Surrendered Its Annuity Business

GNI Trashes Report It Has Surrendered Its Annuity Business

May 31, 2023
FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

May 31, 2023
Calls To Regulate AI Amid Concerns Over Future Risks

Calls To Regulate AI Amid Concerns Over Future Risks

May 31, 2023
Preferred PenCom Logo

PenCom Debunks Recruitment Exercise, Insists Its Misleading

May 30, 2023
AIICO Insurance Celebrates  With Less Privileged On Children’s Day

AIICO Insurance Celebrates With Less Privileged On Children’s Day

May 29, 2023
The Race For Second Edition of Heirs Life Essay Championship for Junior Secondary Students  Opens 

The Race For Second Edition of Heirs Life Essay Championship for Junior Secondary Students Opens 

May 27, 2023
Leadway Ignites children’s Reading Culture Through “Pages to Places”  Initiative

Leadway Ignites children’s Reading Culture Through “Pages to Places” Initiative

May 26, 2023
Mobile App Appeal A Long Haul That Defies Immediate Returns

Meta fined €1.2bn for breach of EU data rules

May 23, 2023

Recent News

Startup Showcase: ZIPHII LTD – Revolutionising Digital Experience Platform For Businesses

Economy resilient to cyber attacks, but threat persists

June 6, 2023
Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

June 1, 2023
GNI Trashes Report It Has Surrendered Its Annuity Business

GNI Trashes Report It Has Surrendered Its Annuity Business

May 31, 2023
FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

May 31, 2023
Calls To Regulate AI Amid Concerns Over Future Risks

Calls To Regulate AI Amid Concerns Over Future Risks

May 31, 2023
Preferred PenCom Logo

PenCom Debunks Recruitment Exercise, Insists Its Misleading

May 30, 2023
AIICO Insurance Celebrates  With Less Privileged On Children’s Day

AIICO Insurance Celebrates With Less Privileged On Children’s Day

May 29, 2023
The Race For Second Edition of Heirs Life Essay Championship for Junior Secondary Students  Opens 

The Race For Second Edition of Heirs Life Essay Championship for Junior Secondary Students Opens 

May 27, 2023
Leadway Ignites children’s Reading Culture Through “Pages to Places”  Initiative

Leadway Ignites children’s Reading Culture Through “Pages to Places” Initiative

May 26, 2023
Mobile App Appeal A Long Haul That Defies Immediate Returns

Meta fined €1.2bn for breach of EU data rules

May 23, 2023
Image Spin: NEM Insurance AGM

Image Spin: NEM Insurance AGM

May 18, 2023
Heirs Life CEO, Onifade, Tells Retirees To Adopt Annuity as Retirement Income

Heirs Life CEO, Onifade, Tells Retirees To Adopt Annuity as Retirement Income

May 18, 2023
2022: NEM Insurance Improves GPW By 20%, Profit By 21%, Claims Obligation Rises 38%

2022: NEM Insurance Improves GPW By 20%, Profit By 21%, Claims Obligation Rises 38%

May 18, 2023
Half Year Claims Obligation, Sovereign Trust Pays N1.6bn

Sovereign Trust Insurance Takes Growth In GPW, PAT To 20% And 9% In 2022

May 17, 2023
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel

Recent News

Startup Showcase: ZIPHII LTD – Revolutionising Digital Experience Platform For Businesses

Economy resilient to cyber attacks, but threat persists

June 6, 2023
Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

Shipping Losses Down In 2022 But New Safety Challenges Emerge – Report

June 1, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In