CONTINENTAL Reinsurance Plc, Africa's largest private reinsurer outside of South Africa has reiterated its commitment to create platforms for dialogue amongst leaders in the insurance industry for the advancement of the continent.
In a statement from the firm on Friday the company announced its plans to create an opportunity for dialogue amongst leaders during its upcoming summit in April for executives of insurance organizations in the continent planned to take place in South African under the theme, 'the changes and challenges shaping the context to the African insurance landscape in 2015.'
The Group Managing Director, Continental Reinsurance Plc, Dr. Femi Oyetunji, said this would be the second edition of the summit for industry leaders to network, share ideas and best practices.
"We are committed to the development of insurance companies in Africa and we have invited chief executive officers from major insurance firms, reinsurance brokerage firms and other strategic stakeholders from across Africa," he said.
The Group Managing Director said four main topics would be broached including sustainability, leadership and insurance legislation in Africa as well as the 'CNN effect' - how 24 hour news networks have an effect on the global political and economic climate.
Continental Re said that with regulators meeting on a regular basis and an apparent consensus in terms of increased regional co-operation, the insurance and reinsurance sector across Africa face challenges and opportunities. During the panel discussion lined up in the summit programme, delegates would look at how players could make the most of those cross-border opportunities while dealing with the challenges that increased regulation brings and how African insurers and reinsurers fit into the increasingly global picture in terms of regulation. The firm added that prominent leaders of financial institutions from different parts of the continent would make enlightening presentations at the summit.
It further pointed discussions around the World Bank's report that Sub-Saharan Africa's macroeconomic prospects remains promising. "Despite headwinds, medium-term growth for Africa remains favourable, with regional gross domestic product growth projected to strengthen to an average annual pace of 5.2 per cent in 2015‑16 from 4.6 per cent in 2014, and rise to 5.3 per cent in 2017, the delegates would look at how Sub-Saharan Africa can maintain this growth in a sustainable fashion."
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