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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: reinsurance
Major 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 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 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 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...
Read MoreNeed a new reinsurance broker? Here's what to look for
April 12 2021 By Cameron Cupido cameron cupido, reinsurance, reinsurance broker
'Not all brokers are created equal' might have been adapted from an old adage over the years for various sectors, including the insurance industry, but never has it been more appropriate than in the current climate and specifically, when trying to find a competent reinsurance broker. The fact is, reinsurance is a niche profession that requires a dedicated set of skills, significant experience and long-standing industry relationships to be truly e...
Read MoreImproved risk management with RSIS
April 12 2021 By Thato Raboroko reinsurance, reinsurance broker, insurance, thato raboroko
RSIS licenses the actuarial modelling software, Risk Explorer. This cutting-edge software provides better, faster and continuous insights into corporate risks, allowing us to develop optimal solutions to maximise returns, and accurately assess reinsurance pricing to inform budgets and reinsurer negotiations. Risk Explorer also enables us to provide portfolio and dynamic financial analysis, as well as reinsurance benchmarking. Through this tool, a...
Read MoreCovid-19: what it taught reinsurers in planning for the next pandemic
March 21 2021 By Cameron Cupido covid-19, corona, insurance, reinsurance
As with every sector the world over, reinsurance felt the impact of the Covid-19 pandemic and subsequent global lockdowns in 2020. An unexpected event for which no one was fully prepared, Covid-19 saw the mass cancellation of events, and the overnight shutdown and scaling back of large industry and business operations, while the service industry all but ground to a halt. The result was a significant amount of cancellation refunds having to be iss...
Read MoreKidnap insurance now a necessity for multinationals in Southern Africa
February 09 2021 By Cameron Cupido kidnap insurance, insurance, reinsurance, africa
When one thinks of kidnapping for ransom, Hollywood movies instantly come to mind. After all, the big screen and the Americas is where such stories usually play out. But what about Africa? In 2003, kidnap-for-ransom statistics sat at 6% for Africa and the Middle East combined. By 2016, this figure had risen sharply to 44% - with Africa accounting for 34% of that total. This represented a 600% increase in just 13 years. According to data gathered ...
Read MoreAon Willis merger - a risk for the SA reinsurance market?
December 07 2020 By Cameron Cupido reinsurance, merger, aon, willis
It was with interest that I read Mark Geoghegan's assessment of the Aon Willis merger in his September column, The $72bn broker, on The Voice of Insurance (https://www.thevoiceofinsurance.com/post/the-72bn-broker). Geoghegan cites a number of areas where the joint manifesto - penned by Aon's Greg Case and Willis Towers Watson's John Haley - falls short. These include its unfathomable omission of any reference to its people, retaining and attracti...
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