When it comes to opportunities in emerging economies, Africa is often overlooked. Intelligent Insurer investigates the opportunities the continent holds for insurers.
Despite the various challenges many African countries face, many are now displaying economic growth underpinned by a burgeoning insurance industry that has taken some significant strides forward in recent years.
“If you take Africa as a continent, certainly in terms of its insurance market, it has emerged substantially over the last 20 to 30 years,” says Peter King, managing director of C K Re Ltd. “This is because it is now mainly controlled by young chief executive officers and managing directors in their middle to late thirties, who have been exposed to the professional techniques of the world. They are also well travelled and better educated.”
But despite many improvements, King argues that progress is still necessary on the continent.
Africa, CK Re, Growth, Life insurance, South Africa, Insurance, Emerging markets