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While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...

In recent years the most promising growth in the insurance industry has come from the low- to middle-income brackets via micro-insurance, which targets entities with lower-level earnings. According to a 2015 report from the National Insurance Commission and the German development organisation GIZ, gross micro-insurance premiums grew by 185%...

Since the enactment of the 2006 Insurance Act, which promoted the development of local content requirements, the Ghanaian insurance industry has experienced a decade of rapid growth, and the proliferation of private companies and brokers.

Regulators are aiming to use higher capital requirements as a means of encouraging consolidation in the Ghanaian banking sector, in a bid to repeat the success of neighbouring Nigeria. In 2004 the Central Bank of Nigeria’s then newly appointed governor, Charles Soludo, faced a weak and thinly spread financial sector that failed to meet the...

The proliferation of insurance companies in Ghana in recent years is indicative of the growth potential of the industry, but has also hindered its maturation. As with many financial sectors in Africa’s frontier markets, fragmentation has limited growth. Larger, heavily capitalised companies are needed to take on the scale of risk inherent in...

Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...