Highlights of the second day of the 49th FANAF General Assembly

The second day of FANAF's 49^th General Assembly began with Panel 2 on the theme “The contribution of the insurance sector to the sustainability of African economies”.

Debates were led by panelists Adama Ndiaye, Managing Director of SEN-Re, and Luc Noubissi, Expert in supervision and financial inclusion.

The discussion was mainly focused on the challenges and opportunities facing the sector, the strategic role of reinsurers in stabilizing the market, and the importance of financial inclusion and microinsurance.

The exchange of views culminated in a common conclusion: making insurance a genuine engine of growth for the African economy. Means to achieve this goal include innovation, digitalization and the development of public-private partnerships.

Panel 3

The proceedings continued with Panel 3, “The role of regulation in accelerating insurance innovation and development in Africa”. This panel featured interventions by:

• Blaise Abel Ezo'o Engolo, CIMA Secretary General
• Achraf Ftouhi, Deputy General Manager, Operations, AtlantaSanad
• Amal Souaifi, Director of Moroccan Insurance Regulation and Standardization, ACAPS

The three speakers highlighted recent regulatory developments and the need to achieve a balance between framework and flexibility in order to anticipate risks and meet market needs.

Panel 4

Delphine Traoré, CEO of SanlamAllianz, Mohamed Seghir, CEO of Hayah Insurance, and Ibrahima Sow, Partner at Forvis Mazars (Morocco), moderated Panel 4, entitled “Overview of major regional trends in insurance productand service innovation”.

Discussions focused on new industry trends such as parametric insurance, the development of insurtechs and partnerships with fintechs. The speakers agreed that a collaborative approach between insurers, regulators and technology players is essential to building an innovative insurance market.

Study report and round table

A study on “Women: a catalyst for growth in the insurance sector in the FANAF zone” was also presented at the meeting.

The second day concluded with a round-table discussion between FANAF and FIAC, the Inter-African Federation of Insurance Brokers.