A.M. Best Moves to Rate More African Insurers | Independent Newspapers Limited
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A.M. Best Moves to Rate More African Insurers

Posted: May 7, 2015 at 12:02 am   /   by   /   comments (0)

A.M. Best Europe – Rating Services Limited, a subsidiary of A.M. Best Company, has commenced moves to ensure that more insurance and reinsurance companies in Africa are assigned ratings.

The rating agency is therefore concluding plans to attend the 42nd African Insurance Organisation (AIO) Conference and General Assembly, holding from May 24 to 27 in Gammarth, Tunisia.

Specifically, A.M. Best will be represented at the annual conference by Dr. Edem Kuenyehia, associate director, market development & communications, and Mr. Ghislain Le Cam, associate director, analytics.

The organisation hopes to meet delegates from the various companies attending the conference with a view establishing mutual beneficial relationships with them.

In the whole of Africa, only 15 insurance outfits were rated by A.M. Best as at April 2015 with Nigeria accounting for five companies, Kenya has three firms, while the remaining seven countries (Algeria, Egypt, Ghana, Mauritius, Morocco, South Africa and Tunisia) have one company each.

The theme of this year’s conference will be “African Insurance in the Face of Mass Events.”

A.M. Best is the leading provider of financial strength, issuer credit and debt ratings for insurers worldwide, and continues to expand its coverage of the African market.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source.