Many African countries are underinsured and represent a strong growth area for insurers facing prospects of low growth, according to The Africa Report.
Africa represents only 0.2% of the world's overall insurance sector.
Nigeria – which allows foreign investors to acquire 100% of local companies – and Ghana are among the most attractive markets.
Swiss Re Ltd. recently forecast the insurance market in Nigeria to grow to $6.5 billion by 2025, from $1.6 billion in 2012.
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