Geographical diversification plan underway at Botswana Insurance Holdings
Botswana Insurance Holdings (BIH) has recently published a strategic plan covering the 2017-2021 period. This plan has been devised to introduce an expansion of the geographical perimeter of the underwritings touching the entire southern African region. This approach has been designed to reduce the group’s dependence on Botswana, its main market.
BIH is marketing life products as a major activity. The insurer is faced with a difficult economic environment, aggravated by the shrinking local currency and the hardships encountered in some markets where two of its subsidiaries are operating. This unfavorable context has triggered a decrease in premiums during the first six months of 2016, at 135 million USD. At 24.2 million USD, profits are down by 8% during the same period of time.
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