The third annual summit of Kenya Reinsurance Corporation's top executives kicked off in Abidjan, Côte d'Ivoire, on November 10, 2026. The event brings together African insurance professionals to address the challenge of expanding access to suitable insurance products for the continent's populations. With Africa accounting for nearly one in six people worldwide, but making up less than 1% of global insurance premiums, experts stress the need for transformation in the industry.
Jean-Marc Atché, deputy director of cabinet, representing the Minister of Transport and Maritime Affairs, Amadou Koné, emphasized the inadequacy of insurance coverage in Africa. He called for adapting insurance offerings and distribution mechanisms to better meet the needs of populations, particularly those most exposed to risks. Atché highlighted the importance of providing accessible guarantees to drivers of two- and three-wheel vehicles, their passengers, and users of collective transportation.
The deputy director of cabinet also advocated for rapid compensation for victims of traffic accidents, a pricing system that rewards prudent behavior, and improved coordination of information systems to combat insurance fraud. These measures aim to increase insurance penetration and make products more accessible to low-income populations. The summit provides a platform for industry leaders to discuss innovative solutions and strategies for sustainable growth.
Dr. Hillary Wachinga, CEO of Kenya Reinsurance Corporation, presented the summit as an opportunity to reflect on strategies for sustainable growth and solutions to improve the performance of the African insurance and reinsurance market. The event gathers insurance and reinsurance company leaders, brokers, regulators, and experts from across the continent to discuss key issues, including agricultural insurance, health insurance, and automobile insurance.
Phares Kablan, CEO of Kenya Re Côte d'Ivoire, noted that the discussions focus on climate resilience, artificial intelligence, data-driven underwriting, innovative risk transfer, and strategic alliances. The two-day summit aims to foster greater cooperation between African markets and promote more inclusive and economically viable insurance solutions. This is the third edition of the summit, following previous events in Nairobi, Kenya, and Lusaka, Zambia.
The summit's objectives align with the needs of African populations, who face various risks, including climate-related disasters, accidents, and health issues. By increasing access to insurance products, the industry can help mitigate these risks and promote economic stability. Experts believe that innovative solutions, such as mobile payment options and data-driven underwriting, can help expand insurance coverage to underserved populations.
The outcome of the summit is expected to contribute to the development of more inclusive and sustainable insurance solutions in Africa. Industry leaders and experts will share best practices, discuss challenges, and explore opportunities for collaboration. As the summit concludes, participants are likely to gain a deeper understanding of the strategies and solutions needed to accelerate insurance penetration and improve the lives of millions of Africans.
Key points
- The summit aims to promote more inclusive and economically viable insurance solutions in Africa.
- Experts stress the need for adapting insurance offerings and distribution mechanisms to meet the needs of populations.
- The event gathers industry leaders to discuss innovative solutions and strategies for sustainable growth.
