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African Risk Capacity Expands Cover To Non-sovereign Risk Transfer Buyers 

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The African Risk Capacity (ARC), which has so far provided parametric disaster insurance products to countries in Africa, is set to expand its client base to include non-sovereign actors, as it looks to grow and diversify its portfolio of risks.

The African Risk Capacity (ARC) has only provided risk transfer and parametric insurance to government’s so far. But now these products are going to be offered to non-sovereigns as well, enabling ARC to offer coverage to entities such as farmers in a country where the government does not have an ARC policy.

Expansion of the ARC risk pool is key to keeping its product offering viable, as the larger the risk pool becomes and the more diversified it is, the greater the reinsurance synergies and cost-benefits that can be achieved and passed on to its policyholder governments.

Today, African Risk Capacity Limited (ARC Ltd), the commercial insurer subsidiary of ARC, has announced a partnership agreement with an insurtech named Pula as part of its drive to expand offering of its capacity more broadly beyond just governments.

The goal is to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks, working with Pula which aggregates micro and meso parametric insurance for agricultural risk transfer buyers.

Pula provides the levers to connect participating farmers with regional insurance companies and global reinsurance firms, ARC explained.

Pula will work closely with ARC on product development, marketing, premium collection and claims disbursements.

The insurtech’s strong capabilities in Area Yield Index are expected to complement ARC Ltd’s strength in drought coverage, while relationships between Pula and farmers and other aggregators are expected to benefit from ARC Ltd’s relationships with African governments and industry regulators.

ARC Ltd CEO Lesley Ndlovu commented, “The ARC Group is currently expanding its product offerings to African Member States; and by experience, we have seen that there will always be farmers whose Governments may, by reason of fiscal constraints, not be able to take up an umbrella Sovereign disaster risk policy. Working with Pula will enable us to extend coverage to Member States and these farmers in a timely and targeted manner on a mutually adaptable basis.”

“ARC Limited is the first of its kind in sovereign disaster risk insurance in Africa,” added Thomas Njeru, the Founder and Co-CEO of Pula. “The development insurance approach of the ARC Group resonates with our mission to provide an end-to-end management of the delivery of insurance to farmers, including field operations, farmer onboarding, education and claims assessment and payouts. We envisage a win-win partnership that will leverage our best-in- class index insurance products and technology with ARC’s strong partnerships with Governments to provide ground- breaking products to farmers. In partnering with ARC we expect that we can push the boundaries of product performance to our customers and radically increase the access to insurance for millions of farmers across Africa, giving them access to the tools they need to become resilient in these challenging times.”

ARC had already begun diversifying its counterparties beyond governments with its replica parametric coverage, which allows an NGO or other organisation to buy parametric insurance that replicates the coverage of a government in a country it operates in.

Adding private sector risk transfer buyers could help ARC expand more rapidly, which it needs to do so it can recognise increasing reinsurance synergies and also peril and geographical diversification within its risk pool.

But it also puts ARC into competition with other direct sellers of parametric risk transfer and insurance in Africa, which could raise potential operational challenges as well, given ARC relies so much on private market reinsurance capacity.

As we explained recently, ARC is also looking to expand in terms of perils covered, as well as sources of risk.

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NAICOM Issues New Licenses To SanlamAllianz After Merger

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The National Insurance Commission (NAICOM) today handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Limited in Abuja.

Commissioner for Insurance, Mr. Olusegun Omosehin, emphasised the ccommission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements.
He urged the companies to prioritize good corporate governance, stability, and timely claims settlement processes.

The Commissioner reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance.
He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth.

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Leadway Health HMO Wins Award Again

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Leadway Health HMO has been honoured with the Health Maintenance Organisation (HMO) of the Year award at the Nigerian Healthcare Excellence Awards (NHEA) for the third consecutive year.
This achievement affirms Leadway Health HMO’s position as a consistent leader in delivering innovative, accessible, and customer-focused healthcare solutions across Nigeria. Leadway Health HMO set a new record, one that has never been achieved in the 15-year history of the NHEAwards.
The award, presented in Lagos recently, 2025, celebrates the organisation’s excellence in service delivery, technology integration, unmatched service delivery, and its expanding provider network.
Speaking on this achievement, Chief Executive Officer, Leadway Health HMO, Dr. Tokunbo Alli, stated, “Receiving the HMO of the Year award for the third consecutive year is a deeply meaningful milestone for us at Leadway Health HMO. It is more than an accolade; it is a resounding validation of our commitment to transforming healthcare delivery in Nigeria, Africa, and the world at large.
“In a country where fewer than one in ten people have access to health insurance, we recognise the immense responsibility we carry. Through our investment in digital innovation, operational efficiency, and inclusive health plans, we are not only improving access to quality care but also setting new benchmarks for service excellence within the industry. This recognition reflects the trust our customers place in us and the unwavering dedication of our team and partners who make our vision a reality every day.”
Alli added, “We will continue to scale our hospital partnerships, enhance claims transparency, and leverage technology to deliver even more accessible, affordable, and customer-centric healthcare solutions. This award strengthens our resolve to be at the forefront of Nigeria’s health transformation journey—driving meaningful change, one life at a time.”
Leadway Health HMO’s triple win comes at a time when trust and performance in the HMO sector are under scrutiny. With a growing population, rising healthcare costs, and a national goal of achieving Universal Health Coverage (UHC) by 2030, the company’s performance positions it as a crucial stakeholder in driving Nigeria’s health transformation agenda.
The Nigerian Healthcare Excellence Awards, founded in 2014 by Global Health Project and Resources in collaboration with Anadach Group USA, is the industry’s most respected recognition platform. This year’s edition was themed “Collaborating for Impact: Strengthening Health Systems through the SWAP Approach”, emphasising unified efforts to drive change.

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NAICOM Wants Nationwide Conversation About Power Of Insurance

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By Sola Alabadan

The National Insurance Commission (NAICOM) has enjoined insurance operators to ensure that they ignite a nationwide conversation about the power of insurance as the inaugural edition of Insurance Week holds across the country.

The Commissioner for Insurance and Chief Executive of NAICOM, Olusegun Omosehin who spoke in Lagos on Monday, affirmed that the Insurance Week is designed to raise national awareness about the vital role of insurance in Nigeria’s growth and development.

To truly secure Nigeria’s future, he pointed out that “we must educate the public on the benefits of insurance, develop products that meet the needs of all Nigerians, wnsure prompt and transparent claims processing, as well as invest in talent and technology to drive innovation and trust.

At NAICOM, he said the regulatory body is committed to building a strong, inclusive, and globally respected insurance industry, and has been driving reforms to strengthen consumer protection, promote digital innovation, ensure capital adequacy and sound governance, while expanding access to underserved communities.

On why insurance matters, he stated that “In today’s fast-changing world, risks are everywhere—economic shocks, natural disasters, health crises, and more” adding that these uncertainties can disrupt lives and derail national progress.

“Insurance is our shield. It helps individuals, businesses, and governments manage these risks, recover from losses, and build resilience.
Without insurance, your economy would be more vulnerable, and our people less secure. That’s why this year’s theme, “Insurance for All: Securing Nigeria’s Future,” is both timely and essential” he emphasised.

Omosehin maintained that “The future of Nigeria depends on how well we manage risk. Every decision—whether by individuals, businesses, or government—carries uncertainty. Insurance provides the tools to navigate these uncertainties and protect our collective future.”

The NAICOM boss further urged the nsurance operators to renew their commitment to building an industry that serves the people and supports national development and use every platform—media, schools, communities, and workplaces—to spread the message that insurance is not a luxury; but a necessity.

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