Established global insurers hold a number of advantages over their domestic counterparts. Most multinationals offer a wider array of products, can offer more complex insurance offerings, employ a larger workforce and hold a wider geographic presence granting them a broader skills base. For smaller players looking to compete on a regional or...
Two of the biggest trends in global insurance in recent years are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as InsurTech, a potentially disruptive trend that heralds both threats to and opportunities for incumbents and newcomers alike. While...
Ghana’s energy sector is in a moment of transition. In 2017 oil was the largest source of energy in the country, at 42.5%, closely followed by biomass at 40.6%. This mainly consists of the firewood that has historically been used to heat homes and small businesses. While some traditional energy sources remain popular, new developments are...
A potential rise in minimum capital requirements has dominated insurance industry discussion throughout 2018, leading some insurers to voice concerns over their ability to meet more stringent regulatory requirements. However, increasing the industry’s capital base has been an ambition of sector regulator the National Insurance Commission (NIC...
The insurance industry in Ghana has plenty of reasons for optimism. A favourable economic backdrop alongside an emerging middle class have helped to boost the sector’s assets, while the World Bank has forecast the continuation of strong economic growth in 2019. Moreover, the country’s insurance penetration rate stands at less than 2%,...
The expansion of the oil and gas sector adds momentum to a trend that has seen Ghana move from traditional forms of energy, such as firewood and charcoal, towards energy provided by the national grid. The share of biomass in Ghana’s energy mix declined from 52% of total primary energy supply in 2009 to 37% in 2016. Conversely, Ghana’s grid-...
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