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It gives us great pleasure to present the 2021 Annual Report of the Africa Insurance Organisation (AIO) to you. This first report, prepared by Faber Consulting, provides an overview of the performance of African insurance markets in 2020 and an outlook for 2021. Due to the slow pace of COVID-19 immunisation on the continent and the limited financial support that African governments can provide to support their economies, the recovery of African insurance markets is expected to be delayed until after 2022 and slower than in other emerging markets.

The world is currently experiencing a global health crisis, the likes of which we have not seen in our lifetime. Although the insurance sector in Africa is not out of the woods yet, there are good reasons for optimism. The African insurance sector remained resilient and worked closely with governments and regulators to manage the dramatic financial shock of the pandemic. Throughout the pandemic, re/insurance companies maintained operations running and deployed their full range of risk solutions, expertise and capital to support African policyholders.

The report also presents the AIO's strategy and key activities over the past 12 months, as well as key trends in African insurance regulation. Continued dialogue and collaboration with governments, regulators and supervisors is critical in the aftermath of this crisis, as their legislative and regulatory decisions will shape the future of our insurance industry in Africa.

The 2021 Annual Report of the African Insurance Organisation is available in English and French:

Download the 2021 Annual Report of the African Insurance Organisation

Télécharger le Rapport Annuel 2021 de l'Organisation des Assurances Africaines (version française)