Non-profit selected to help African central banks assess nature-related risk
Financial Sector Deepening Africa (FSD Africa) will be quantifying changes in credit risk under different nature and climate scenarios for African central banks this year, the Kenya-based development agency’s director of risk, Kelvin Massingham, told Responsible Investor. Massingham was speaking to RI after FSD Africa was selected to deliver the UK government’s Nature Positive Economy programme, alongside the UNDP’s Biodiversity […]
2023 and Emerging Challenges for Insurers
Activities and developments in both local and global business environment made insurers to see 2023 as positive business year with emerging challenges, writes Ebere Nwoji As the global business community closes its annual transaction books for the year 2022 and opened an entirely new book for 2023, insurance operators said they were marching into the new year […]
Group Charges African Insurers On ESG Adoption
ICEA LION Group has charged insurance regulators and operators in Africa to adopt Environmental-Social-Governance (ESG) to drive sustainable growth of the market on the continent. Speaking at the recent 2022 Insurance Directors’ conference held at the College of Insurance and Financial Management (CIFM) in Lagos, Nigeria with the theme: ‘Transforming the Insurance Industry through ESG […]
Adopting ESG Principles In Insurance Industry
Although, industrialisation has brought huge development in job creation and world advancement, it has equally led to the degradation of the environment and encroachment of natural habitat that has led to climate change. The drought, ocean surge, fire outbreak, among others, are the rotten fruit of industrialisation and urgent steps had to be taken to […]
Insurance inclusion: Swiss Re Foundation raises $0.5million grant to fund innovation for rural communities
The Swiss Re Foundation has announced a US$500,000 grant to spur innovation of insurance products for the underserved communities in Africa in the wake of rising risks. Report noted that the funding, which will be distributed through FSD Africa’s supported BimaLab insurance accelerator programme, will help promising insurtechs to introduce and scale up innovative products […]
African insurers pledge $14bn of cover to take up climate change fight
This commitment comes as Africa continues to face irreversible loss and damage associated with global climate change impacts such as drought, flood and tropical cyclones. With African nations being among the most exposed globally to the impacts of climate change and nature loss, Africa cannot continue to rely on international aid and developed world climate […]
