AFRICA’S REINSURERS EXPECT PREMIUM GROWTH AND IMPROVED PROFITS

Reinsurance pricing and profitability has improved across Africa, according to the third edition of the Africa Reinsurance Pulse. The number of reinsurers that say rates are low has dropped from 75% to 40% of interviewees while executives expect stable or rising rates due to higher employment, investments in infrastructure and the resurgence of exports and trade. Following the natural catastrophe events of 2017 and soaring claims, rates increased particularly in South Africa, the report said. Survey respondents also expect profitability to strengthen, with the exception of South Africa, which has suffered from heavy claims in 2017.