In the news today: Volvo recalls more than 500 000 cars worldwide, SA startup JaSure launches on-demand insurance app, Sanlam partners with Japanese firm to expand its access to the East African region and the rising tide of natural catastrophe losses

0
233

Volvo recalls more than 500,000 cars worldwide over fire risk

Volvo who promised the world that no-one would be injured in a new Volvo vehicle from 2020 and who are also on record as becoming self-insured from 2025 are recalling more than 500,000 cars worldwide over fire risk. It is perhaps not a good time for them to delete their insurers and reinsurer telephone numbers from their contact list, at least not quite yet.  READ MORE

SA startup JaSure launches on-demand insurance app

South African fintech startup JaSure has launched an on-demand insurance app that allows users to get insured on the go.  READ MORE

Sanlam partners with Japanese firm to expand its access to the East African region

Financial services group Sanlam Kenya has sealed an agreement with Sompo Holdings, one of the largest insurance groups in Japan. This strategic agreement will allow Sompo to continue to expand its Japanese influence and investment in Africa and specifically in East Africa where Kenya is attracting substantial Japanese investment interest.  READ MORE

EFG Hermes considers entering insurance sector

CEO of EFG Hermes Karim Awad said the group plans to enter new sectors in the coming years, including the insurance sector, adding that they are currently operating in all non-bank financial (NBF) sectors, except insurance, after entering mortgage finance sector with Ghabbour Auto and Talaat Mostafa Group.  READ MORE

The rising tide of natural catastrophe losses

The rising occurrence and severity of natural catastrophe events can be linked back to global climate change. Tobias Grimm, Senior Manager: Climate at Munich Re says that climate change is responsible for both the expanding geographic footprint of tropical cyclones and the intensity of resulting storm activity. Grimm was speaking at the African Insurance Exchange (AIE) Conference held in Sun City last week.  READ MORE