Gallagher Re has estimated that global insured losses from natural catastrophes in Q1 of 2024 were $20 billion, heavily driven by severe convective storm (SCS) activity in the US. According to the global reinsurance broker’s Natural Catastrophe & Climate Report, insured losses in Q1 2024 were 10% higher than the decadal average of $18 billion. […]
The Swiss Re Institute has reported that global insured losses from natural catastrophes surged to $108 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. A news report from the Institute indicated that total global insured […]
The Federal Government on Thursday inaugurated an Intergovernmental Committee on Carbon Market Activation Plan with the mandate of exploring opportunities in Africa’s $2.5 billion carbon market for the nation’s economic development The Vice President, Kashim Shettima, who inaugurated the committee on behalf of the President, Bola Tinubu, said the committee’s mandate was to develop a […]
Liquid C2, a Cassava Technologies firm, has announced collaborations with global technology leader Google Cloud and artificial intelligence (AI) company Anthropic to deliver advanced cloud, cyber security solutions, and generative AI (gen AI) capabilities to African businesses across the continent. The initiative by Liquid C2 following last November’s signing of a Memorandum of Understanding (MOU) […]
A new report by the Swiss Re Institute has indicated that climate change will have a larger impact on economic losses in the future, with the US and Philippines projected to be the hardest hit. The report listed four key weather perils, namely floods, tropical cyclones, winter storms in Europe, and severe thunderstorms, which are […]
Ogun State Deputy Governor, Engr. (Mrs.) Noimot Salako-Oyedele, has stressed the need for the Federal Government and sub-national governments to adopt proper modalities for the demarcation of boundary lines nationwide to avoid conflicts among the people. She also harped on the need to address other socio-economic issues, including trans-border trade, cross-border integration, and adequate security […]
European insurance industry leaders are doubling their digitalisation drive to enhance customer experiences and streamline operations in the face of looming recession threats to their economies. According to a recent survey conducted by Information Services Group (ISG), titled ‘Pulse Check – State of the European Insurance Industry’ conducted in the fourth quarter of 2023, nearly […]
The African Guarantee Fund (AGF), a leader in promoting financing of Small and Medium-sized Enterprises (SMEs) across Africa and FSD Africa, a pioneering development agency committed to reshaping Africa’s long-term financial landscape, have signed a strategic collaborative pact aimed at propelling the growth of Green SMEs by providing critical financial support, technical assistance, and capacity […]
The Board of Directors of the African Development Bank Group (AfDB) has approved the proposal to take an initial stake of up to $10 million in the “Alliance for Green Infrastructure in Africa – Project Development” (AGIA-PD)” Fund as part of its investment supports for successful green transition of African countries. A news report from […]
The Nigerian National Petroleum Company Limited (NNPCL), is currently exploring collaborative options with the United States Department of State and leading global consultancy firm, Deloitte, on greenhouse gas emissions from OML 34 with a view to abating the rate. The company’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, stated on Monday that the project, which […]