Browsing: Insurance sector in East Africa

Insurance sector (Freepik)

While insurers have been able to absorb the underwriting impacts of large loss events such as COVID-19, the impact on insurance companies’ profitability is still uncertain. 

This is according to a recent report by Deloitte, which states that despite the efforts put in place by governments to cushion the public from the adverse economic effects of the pandemic, the outlook on long-term impacts and recovery from the pandemic is still uncertain as it will take time for businesses to recover.  

“With stock markets showing declines in performance and flattening yield curves, insurers are set to experience poor performance in their investments and this will flow through to their bottom line results.”  …

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Whether we like it or not at some point we will have to say goodbye to this world we call home. Bad enough is that we do not know when it will be our last time on earth.

Due to these few facts, it becomes necessary to take up a funeral cover. Also known as burial insurance this is a form of insurance that pays a specified amount of money in the event of a death by ensuring that the costs of a funeral will be covered so that family members do not have to struggle financially at this difficult time.

A majority of families in Africa depend on relatives and friend’s contribution to manage a burial ceremony for their loved ones.

We can all agree that funerals are very costly and their expense can’t be carried by a single person. Funeral ceremonies in many major African cities can take …