News
Reinsurance Solutions Intermediary Services is growing all the time.
Take a look through our news articles for more on our latest client wins, new products and services, and exactly how we're helping Southern African insurance firms meet their customer obligations.
News | Tag: insurance
African maritime insurance more critical than ever as piracy surges
April 24 2025 By Reinsurance Solutions marine insurance, maritime, piracy
Maritime piracy in East Indian Ocean waters has returned after a decade of relative calm in this area, with Somali pirates launching renewed attacks on vessels routing past the Horn of Africa. This has once again highlighted the importance of marine re/insurance to assist ship and cargo owners, as well as African companies, in mitigating the financial risks associated with international shipping. This increase in piracy comes off the back of the ...
Read MoreBankers Blanket Bond: A shield against rising occupational fraud
December 06 2024 By Reinsurance Solutions bbb insurance, bankers blanket bond
Global financial institutions recorded a staggering 40% increase in occupational fraud between 2018 and 2022* while worldwide occupational fraud losses topped $42 billion** last year. Occupational fraud, perpetrated by employees within the organisation, poses a significant threat to the banking sector. Such misconduct, if left unchecked, can have far-reaching consequences, potentially leading to substantial financial losses and reputational dam...
Read MoreParametric insurance - a lifeline for Africa
November 12 2024 By Reinsurance Solutions parametric insurance, natural disasters
In the face of growing climate change-related events, parametric insurance is being touted as the best possible protection for businesses operating in Africa. The World Economic Forum goes as far as to say that 'it could become a key part of the relief capital mix' as it offers a quick and relatively low-cost insurance solution. With many clients operating in industries at the forefront of climate change risks in Africa, Reinsurance Solutions has...
Read MoreReinsurance Solutions, Fortree Management Services join forces in captive re/insurance offering
May 10 2024 By Reinsurance Solutions captive insurance, fortree, mauritius
Reinsurance Solutions has entered into a strategic partnership with Mauritius-based financial services provider, Fortree Management Services, to provide local, African and global clients with access to pure captive re/insurance. Working with Mauritian regulators, the collaboration seeks to make Mauritius a preferred pure captive insurance jurisdiction in the world, providing a comprehensive service to potential captive owners or businesses wantin...
Read MoreMajor trends shaping Southern African reinsurance in 2024
March 26 2024 By Byron Govender reinsurance, renewals, trends, 2024
Reinsurers want to understand where and why specific cover is being deployed; they want their cover to be valued; and they will continue to favourably support insurers writing multiple lines, as this ensures market diversity. These were among the key insights coming out of Reinsurance Solutions Intermediary Services' (RSIS) recent contract renewal process with cedants, which revealed a number of trends currently influencing the reinsurance sector...
Read MoreA cyber insurance solution for African businesses
February 21 2024 By Bervin Momba insurance, reinsurance, cyber insurance, bervin momba
The rate of cyberattacks on businesses around the world is increasing at a pace never seen before, fuelled by sophisticated technology, including the use of artificial intelligence to launch more vicious attacks and bypass cyber security systems. Latest tech leads to more damaging attacks The most common form of cybercrime facing both businesses and individuals is phishing, notes London-based IT services provider, AAG. In 2021, 323 972 internet u...
Read MoreReinsurance Solutions Zambia awarded trading licence
December 01 2023 By Reinsurance Solutions reinsurance, africa, souther africa, zambia
Reinsurance Solutions Zambia, the local office of the global Reinsurance Solutions Group, has been awarded a trading licence effective 1 December 2023 by the Pension and Insurance Authority (PIA). Bervin Momba, MD of Reinsurance Solutions Zambia, made the announcement today on behalf of the company's board of directors. Reinsurance Solutions Zambia was founded in Lusaka on 11 October 2022. It provides superior reinsurance broking solutions to the...
Read MoreManaging risk exposure with alternate reinsurance structures
November 23 2023 By Nicole Lopes life insurance, structures, reinsurance
Over the years, the constantly changing dynamics and demands of the modern life insurance market have necessitated a fresh approach to reinsurance structures. These alternative reinsurance structures provide innovative solutions to life insurers looking to efficiently manage their risk exposures while maximising their profitability. There are a number of alternative structures that are gaining traction among life insurers including quota share re...
Read MoreReinsurance is a non-negotiable for medical insurers operating in Africa
November 09 2023 By Nicole Lopes healthcare, nicole lopes, reinsurance, accident and health, a&h
Africa's healthcare landscape is rapidly transforming, driven by increased public demand for quality medical services and improved access to healthcare. Bridging the gap between patients and healthcare providers are insurers, which find themselves facing serious challenges in providing adequate coverage. Reinsurance, however, is proving beneficial in helping insurers in Africa navigate this uncertain terrain. Barriers to coverage One of the most ...
Read MoreRSIS launches innovative cyber insurance solution for businesses
October 26 2023 By Reinsurance Solutions cyber insurance
Cybercrime is rapidly increasing in Southern Africa, with the region recording among the highest number of ransomware and business email attacks in Africa. To address this constantly evolving business risk, reinsurance broker, Reinsurance Solutions Intermediary Services (RSIS), has teamed up with cyber security firm, Fullstream Business Service (FBS), to develop a tailored cyber insurance solution for Southern African businesses, underwritten by ...
Read MoreSouthern Africa needs flood modelling now more than ever before
May 22 2023 By Thato Raboroko flood modelling, catastrophe modelling, reinsurance, risk management, risk mitigation
In the years between 2017 and 2023, Southern Africa experienced three of its deadliest tropical storms: Cyclone Idai (2019, 1 300 deaths); Cyclone Freddy (2023, 500+ deaths) and tropical storm Dineo (2017, 250 deaths). It also experienced Cyclone Kenneth (2019), Africa's strongest cyclone ever recorded. Madagascar, Mauritius, Mozambique, Zimbabwe and Malawi are in the direct path of these devastating Indian Ocean storms, which are on track to in...
Read MoreCEO to CEO: Addressing the re/insurance skills shortage in SA
March 28 2023 By Cameron Cupido cameron cupido, skills shortage, re/insurance industry
As a South African CEO navigating these difficult times, I wanted to reach out to other CEOs and share personal insights around this issue in the hope it might resonate and open up dialogue around the challenges we're all currently facing. Where are all the skilled brokers? When we launched Reinsurance Solutions Intermediary Services in South Africa in 2020, it was with a handpicked team of professionals that we knew would excel. They were all ...
Read MoreReinsurance Solutions Group puts Africa on the map at Dubai World Insurance Congress 2023
March 14 2023 By Reinsurance Solutions dwic, dubai, resinsurance, risk management
Reinsurance Solutions Group (RSG) attended the Dubai World Insurance Congress 2023, jointly hosted by Global Reinsurance and the Dubai International Finance Centre (DIFC), on 8 and 9 March 2023 in Dubai, UAE. The congress was themed 'Resilience: Navigating the storm to a better world', and brought together more than 1 500 insurance and reinsurance leaders from 60 countries around the world, specifically the Middle East and Maghreb countries. ...
Read MoreIncreasing natural disasters necessitates new approach to CAT cover
August 01 2022 By Medgee Ithier medgee ithier, natural catastrophes, reinsurance, insurance
Incidences of natural catastrophes the world over are increasing year on year. One catastrophic modelling company predicts that catastrophe losses will double every decade. This is forcing insurers and reinsurers to relook at the way they model and underwrite these risks. Natural catastrophes are large-scale geological or meteorological events that have the potential to cause loss of life as well as damage to infrastructure and property. Natural ...
Read MoreThe state of the riot wrap market in South Africa
June 01 2022 By Cameron Cupido pvt cover, reinsurance, insurance, cameron cupido, sasria, south africa
There has been a marked increase in demand for political violence and terrorism cover (PVT) from South African commercial clients following the riots and looting that rocked KwaZulu-Natal and Gauteng in July 2021. However, recent amendments by the state-owned South African Special Risks Insurance Association (Sasria) - the country's sole political riot insurer - have left a gaping hole in the cover available, forcing insurers to look to reinsurer...
Read MoreFlood risk modelling could have prepared us for the KZN floods
June 01 2022 By Thato Raboroko flood modelling, kzn floods 2022, thato roboroko, insurance analytics
South Africa is still reeling from the significant loss of life, and housing and infrastructural devastation, of the floods that rocked KwaZulu-Natal in April. The harsh reality is, this will happen again. Floods, wildfires, tropical cyclones and other climate change-related events have been increasing and will continue to increase in the future. Which begs the question - can risk modelling play a greater role in preparing communities for what's ...
Read MoreSA insurers urged to look to African reinsurance brokers for profitable growth prospects
October 19 2021 By Reinsurance Solutions resinsurance, insurance, brokers, africa, opportunities, nicole lopes, blessing chiguye
The potential for growth in the African insurance sector is significant. South African insurers are well positioned to leverage their expertise across borders and maximise this robust growth opportunity. Participating in a recent Insurance Institute of South Africa webinar on the insurance opportunities in Africa, Reinsurance Solutions Intermediary Services (RSIS) Executive Head of Broking, Nicole Lopes, said the insurance penetration rate on the...
Read MoreCEO to CEO: Looking to Africa for business growth prospects
October 14 2021 By Cameron Cupido cameron cupido, ceo outlook, reinsurance, africa
As a South African CEO navigating these challenging times, I wanted to reach out to other CEOs and share my personal insights around pressing issues, but also opportunities, in the hope this opens up dialogue around the current climate and topical matters impacting South African businesses. African prospects for South African business growth Despite the economic slowdown as a result of the Covid-19 pandemic, all signs are that South Africa's more...
Read MoreSouthern African facultative reinsurance: a golden opportunity for SA insurers
August 23 2021 By Blessing Chiguye blessing chiguye, reinsurance, fac inward, africa
The South African insurance market is all but saturated. Picking up new local business that steadily grows your books is difficult, and offers small wins at best. Naturally, South African insurers are looking for other ways to expand their businesses. The broader Southern African insurance sector represents an underexplored market, with significant opportunities for local insurers that are prepared to leave the comfort zone of the SA market and s...
Read MoreOpportunities for marine underwriters in Southern Africa
June 24 2021 By Nicole Lopes marine insurance, reinsurance, africa, nicole lopes
The ocean is vital to the livelihoods of Africans. Whether subsistence fishermen or commercial fishing enterprises, importers or exporters, it plays a critical role in Africans' access to food, trade and income. This presents opportunities for marine underwriters that are prepared to invest in the continent and specifically, the Southern African region. Marine trade in Africa While a third of African countries are landlocked, maritime transit rem...
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