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Insurance pools in Africa

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Magazine Issue: 
The impossible transfer of risks [3]
Magazine date: 
May 2019
It is only recently that the idea of creating insurance pools in Africa has been considered. In fact, it was mainly put forward after the independence of the African States.

pool assurance AfriqueThe need to cover ever increasing risks and retain maximum premiums on the local market has urged insurance companies to join forces.

Currently, there are various types of insurance pools [4]; some are local while others are regional or continental.

Major African insurance pools

Insurance poolDate of creationCountry
Insurance pool for oil and gas risks
2018Senegal
Energy and Allied Insurance Pool of Nigeria
2015Nigeria
African Risk Capacity (ARC) – Pool for natural catastrophe risks
2014South Africa
Health microinsurance pool (PMAS)
2013Senegal
Ghana Agricultural Insurance Pool (GAIP)
2011Ghana
Co-insurance pool for public passenger transportation
2009Cameroon
Co-insurance pool for public passenger transportation
2007Côte d'Ivoire
2009Algeria
African Oil and Energy Pool (AOEIP)
1989Nigeria
Nigeria Liability Insurance Pool (NLIP)
1988Nigeria
African Aviation Pool (AAP)
1983Nigeria
South African Special Risks Insurance Association (SASRIA)
1979South Africa

NB : Non exhaustive list

Other pools are to be established soon in Africa. The ongoing talks may lead to a Pan-African pool involving the Gabonese SCG-Ré and the Kenyan Zep-Re.

Read also | Four new Egyptian insurance pools [6]

Fri, 17/05/2019 - 12:19

Source URL: https://www.atlas-mag.net/en/article/insurance-pools-in-africa

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[3] https://www.atlas-mag.net/en/issue/the-impossible-transfer-of-risks
[4] https://www.atlas-mag.net/en/article/insurance-and-reinsurance-pools
[5] https://www.atlas-mag.net/en/article/the-10-year-structural-warranty-at-the-heart-of-construction-insurance
[6] https://www.atlas-mag.net/en/article/four-new-egyptian-insurance-pools