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Insurance development in Africa: FANAF's 49th AGM opens on February 22

19/02/2025
Source : ORISHAS FINANCE
Categories: Sectors

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The 49th General Assembly of the Federation of African National Insurance Companies (FANAF) is scheduled for February 22 to 26, 2025. The meetings will take place as usual in Marrakech (Morocco) “the red city”.

What are the levers for an Inclusive and Sustainable Development of Insurance in Africa? ” this is the theme around which African insurers will discuss for five days. The 49th FANAF involves crucial issues in the positioning of the insurance industry in an Africa undergoing rapid economic and social change. The international professional organization, with around 210 members across Africa, has set itself the objective of promoting the development of insurance in Africa. A few issues will fuel the discussions during the Marrakech meetings. In reality, insurers are challenged to invent new forms of distribution that are less expensive. In a context where some companies operate only on their national market, others, with a regional or international vocation, are increasingly organizing themselves into networks and developing subsidiaries or partnerships in several African countries.
Despite the limits of African insurance on a global scale, many players (international brokers, European companies, etc.) have invested in the sector, attracted by its good claims rate, which explains in particular the low exposure of African insurers to cutting-edge risks

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