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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: insurance
2022: slow growth, but recovery is in sight
January 24 2023 By Cameron Cupido 2022, cameron cupido, exec, insurance industry
Coming off the back of two difficult years for the insurance sector, it was hoped that 2022 would show signs of recovery, as markets around the world stabilised. While that has been the case to a large extent, growth has been slower than anticipated. Looking back, one of the highlights of the year was undoubtedly the chance to travel abroad again. In October I travelled to Europe for stakeholder meetings, and came to sincerely appreciate in-pe...
Read MoreAfrican reinsurance market seminar a resounding success
November 23 2022 By Reinsurance Solutions reinsurance, insurance, conference
Reinsurance Solutions, in collaboration with Swiss Re Africa, hosted a market seminar for the African reinsurance sector from 9 to 11 November 2022 in Mauritius. The seminar was incredibly well received by delegates, who travelled from across the continent to attend this important knowledge-sharing initiative. The seminar comes at a time when the reinsurance industry is facing a steadily hardening market, with inflation and prices across the b...
Read MoreCyber insurance: a solid growth prospect for global (re)insurance
November 14 2022 By Blessing Chiguye blessing chiguye, cyber security, cyber insurance
Cyber insurance offers significant growth potential for (re)insurers, as this risk becomes more prevalent the world over. In SHA's 2022 Specialist Risk Review of the views of 1040 South African business leaders across various sectors, respondents ranked cyber security third on the list of top threats, after power disruptions and labour matters. That is a fair estimation, given the context of South Africa's risk landscape over the past two years. ...
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...
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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