Analysts at AM Best have flagged a host of uncertainties that may impede the near-term prospects of the reinsurance market in Sub-Saharan Africa (SSA), despite its significant expansion over the past decade.
The rating agency notes that gross written premium in the SSA reinsurance market has grown at a 10-year compound annual growth rate of 6%.
This has been driven predominantly by the non-life insurance segment, with the life segment at a nascent stage of development in many of the region’s countries.
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