Microinsurance, Foreign insurance companies interested in the African continent

Microinsurance has existed in Africa, in an informal fashion, since the mid 1990s. Insurance companies, community organizations, micro finance institutions and other non-governmental organizations have occupied the market. Among the great insurance names we note AIG, Zurich and Swiss Re. Allianz has recently entered the market in association with PlaNet Finance to offer products designed for poor populations in several countries of the continent. It is in Egypt that such partnership is most advanced: 30 000 people are benefiting from the products of Allianz group.