In the news today: Munich Re of Africa sees life insurance potential in Sub-Saharan Africa, South African private equity Investment reaches records high, blockchain insurance consortium B3i gets a new leader and activist warns of reputational damage to Old Mutual

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Munich Re of Africa sees life insurance potential in Sub-Saharan Africa

Countries in Sub-Saharan Africa (SSA) are set to grow their life insurance and reinsurance industries on the back of strong economic growth. Filipe Nunes, Head of Life at Munich Re of Africa (MRoA), told attendees at the reinsurer’s 2019 Africa Life Conference, that high GDP growth rates coupled with life insurance product innovation created the perfect platform for insurance-backed economic development on the continent.  READ MORE

Southern African private equity investment reaches record highs

South African private equity exhibited a considerable increase in investment activity in 2018, with the value of new investments and follow-on investments reaching a record-high of R35.4 billion, compared to an annual average of R15.2 billion over the preceding 10 years.  READ MORE

Blockchain insurance consortium B3i gets a new leader

The blockchain insurance joint venture B3i announced the appointment John Carolin as the new CEO. Carolin was formerly the CFO and has been acting CEO since March when he replaced founding CEO Paul Meeusen. Meeusen continues as an adviser to the board. Swiss-headquartered B3i is owned by 16 major insurers and Japanese fintech investor SBI.  READ MORE

Activist warns of reputational damage to Old Mutual

Shareholder activist Theo Botha has warned the continuing public spat between fired Old Mutual chief executive Peter Moyo and chairperson Trevor Manuel would become a reputational disaster for the country’s biggest life insurance group, irrespective of the outcome in court. Botha said the rift might bring changes in the way conflicts of interest were managed in corporate South Africa.  READ MORE