Trinidad and Tobago is the largest producer of oil and gas in the Caribbean. While there is a need to diversify the economy away from its dependence on hydrocarbons, a number of new discoveries in late 2019 appear set to support a short-term recovery in the energy sector and lend financing to the wider economy.
Micro-insurance represents a new development path for Ghana’s insurance industry, and protecting workers and businesses from unforeseen events, such as flood or drought, is emerging as a policy priority for regional governments. Low median incomes have traditionally excluded many Ghanaians from financial services, but the emergence of the...
Performance in the Ghanaian life insurance market has shown mixed results. While some providers have remained profitable despite the challenging environment caused by the crisis in the banking sector (see Banking chapter), others are struggling to achieve underwriting profitability. Those that are securing a margin are doing so with the help...
The use of sophisticated algorithms in wealth management is leading to improved efficiency and transparency in the financial services sector, benefitting both providers and clients. In particular, so-called robo-advisory firms are disrupting the industry and helping to boost financial inclusion. Primarily concentrated in developed markets such...
What has driven the increase in capital requirements, and how will it impact the market?
After successfully weathering a period of financial instability stemming from the banking sector, Ghana’s insurance industry is growing in size and sophistication. The coming year, however, will bring a fresh set of challenges as the authorities look to roll out a new legislative framework for the industry in 2020, and as companies seek to...
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