What prompted the move to a risk-based supervision model from a compliance-based one?
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Articles & Analysis | New regulatory framework bringing Kenya in line with international best practices from The Report: Kenya 2016
Kenya is introducing a number of regulatory changes to its insurance sector, including a move towards risk-based capital, increased capital requirements, new guidelines for short-term business and takaful rules.
Articles & Analysis | Banks and insurance companies in Kenya collaborate to drive growth from The Report: Kenya 2016
Kenyans have a talent for making technologies and new ways of doing business work where other markets have failed. Bancassurance – or collaboration and integration between banks and insurance companies – has been tried in many African markets. In Kenya it is increasingly central to insurance and has already driven a few high-profile takeovers...
Senegal’s population of 16m is situated on the Atlantic Coast of West Africa. With robust and sustained annual economic growth at 6% or above since 2014, and a considerable multifaceted investment and reform programme under way, the country is well positioned to see a sustained influx of foreign capital as economic momentum builds. Senegal’s solid macroeconomic performance is underpinned by its relatively strong and long-running status as one of the most stable countries in the region.
Chapter | Industry & Retail from The Report: Kenya 2016
The ongoing push for industrial expansion, as highlighted by the government’s overarching Vision 2030 strategy, has resulted in a number of positive developments over the past year, particularly in the textiles, construction materials and food processing segments. Electricity availability and reliability have improved steadily over the past year as new renewable power plants have come on-line...
In recent years, insurance penetration and accessibility have been improving steadily in Kenya. The middle class is growing, more Kenyans have disposable income and there is potential for new demand for insurance. There is rapid urbanisation, giant infrastructure projects, new energy schemes and growing industry. In 2013 life insurance penetration stood at 1.2% of GDP and general insurance was...