AFRICA’S US$6.8 BILLION REINSURANCE MARKET IS EXPECTED TO RECOVER MARKEDLY IN 2018

Africa’s reinsurance executives continue to be bullish about the prospects of their markets.

This is the outcome of the second edition of the Africa Reinsurance Pulse launched at the 22nd Africa Reinsurance Forum in Port Louis, Mauritius.

In 2016, Africa’s GDP growth dropped to 1.8% below the global average of 2.5%.

Insurance Premiums declined by 15.3% to US$61 billion. However, the contraction is mainly due to the depreciation of some key African currencies against the dollar.

For 2018, the senior reinsurance and Brokerage executives interviewed expect results to improve markedly as the underlying market fundamentals remain largely unscathed from the current decline.

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