Ayodele Iyun, Head Business Development, Custodian Investment Plc.
The Nigerian insurance industry like most African countries is largely underdeveloped, and insurance penetration levels are very low by global standards. More so there is significant shortfall in promoting and developing the Personal lines insurance sector thereby leading to low (less than 20%) contribution in premium pooled from the country.
Lawrence Cheng, Managing Director, Peak Re, Hong Kong
ILS (insurance linked securities) are continuing to break records and are becoming the mainstream capital provider for property catastrophe (re)insurance. According to Aon Securities, the ILS market has grown from US$ 17bn in 2006 to US$ 97bn in 2018 representing 16% of the total reinsurance capital. The four most common form of ILS, Cat Bonds, Sidcars, ILW and Collaterlised Re have all grown over the years.
This article was originally published in the Fall 2018 edition of INSIGHTS: A Professional Journal by the CPCU Society and is shared with permission from The Institutes CPCU Society. The Society For Chartered Property Casualty Underwriters. All rights reserved. www.CPCUSociety.org
I have been asked a number of times to provide my perspective on the insurance industry in the time of the Industrial Revolution 4.0. In this piece I’ll do so, but first, how did we get to 4.0? What preceded and led to this brave new world of what’s now called “IR4”?
Dónal Corcoran, Executive Vice President, Head of Consumer Insurance, AIG
