News

Embracing diversity

July, 2014 - by Stephanie Bartup

Discoveries of oil and gas resources have been key to Angola’s economic boom, but a need to diversify is shifting the focus to other industries, opening up avenues for the insurance industry.
[...] “Once the oil stops flowing I think the country has a major problem,” says Rob Lewis, CEO of One Alliance Insurance Services. “It has a very heavy dependency on oil at the moment to balance its budget. But there is enough oil there to for the economy to last a very long time, and hopefully, make the transition to other minerals.” [...] Read more


Untapped resources

March, 2014

Rich in mineral resources, Africa has become one of the world’s key suppliers of oil and gas. AIR’s Alexis Burris investigates the critical role that the insurance market can play in this burgeoning sector.
[...] Taking into consideration the significant risk in this space, insurance and reinsurance are crucial to these lines of business. “Across Africa, the sector is incredibly well-covered, every single oil and gas operator is extremely aware of the huge risk involved,” says Lewis." [...] Read more


Angolanisation

July, 2013

A range of positive economic fundamentals mean Angola’s insurance market is brimming with potential.
In a recent report, published by the World Bank, Angola was labelled as one of the most opportunistic regions in the whole of sub-Saharan Africa, and it’s not difficult to see why. With a projected gross domestic product (GDP) of over $126bn in 2012, compared to $75bn in 2009, on the strength of its oil exports, Angola has the third-largest economy in Africa. [...] Read more


GA Angola Seguros awarded upgraded rating outlook

June, 2013

GA Angola Seguros (GA) has been awarded an upgraded rating outlook for 2013 to “positive” from “stable” by Global Credit Rating (GRC).
[...] While speaking exclusively with Africa Insurance Review, Robert Lewis, chief executive of GA, said: “The company is gratified that the positive work over the past 12 months has been rewarded with a positive rating outlook, which we believe will lay the path to an upgrade in 2014.” [...] Read more


One Alliance ready to launch

November, 2013

In anticipation of the Democratic Republic of Congo’s insurance market opening up following years of monopolistic rule, William Capel, managing director of One Alliance Insurance DRC, considers the opportunities for both insurers and multinational companies.
[...] The One Alliance Group, like some other potential participants, has decided to start operations once the legislation has been passed. To facilitate this, the Group has established itself locally and has the systems and personnel ready to begin operations. [...] Read more


One Alliance CEO says targets expansion in Africa Re-Insurance

November, 2013 - by Colin McClelland

One Alliance Insurance, the South African company that just sold Angola’s largest closely-held insurer by revenue, plans to start a re-insurance arm focused on the continent, Chief Executive Officer Robert Lewis said.
The firm is seeking a re-insurance license by June in the U.K. for a new company called One Re to do business in Africa, Lewis said today in an e-mailed response to questions. One Alliance is also targeting expansion in the Democratic Republic of Congo, Equatorial Guinea and Southern Sudan. [...] Read more


GA Angola Seguros - They have got Angola covered

December, 2012 - by Lula Ahrens

GA Angola Seguros was the first foreign insurance company to enter Angola in thirty years and the first to obtain an official A credit rating. Today, it is on the cusp of a $150 million annual turnover.
Robert and Greg Lewis are doing something right in one of the world’s toughest business environments. “In 2009 we looked at our business and realized we were on to something amazing,” says Robert Lewis in the lounge of Luanda International Airport. Read more


Absa acquires Global Alliance of Mozambique

August, 2011 - by Absa

Absa announced today that it has reached an agreement to acquire 100% of the share capital of Global Alliance Seguros S.A. (“Global Alliance”), a leading insurance business in Mozambique.
With over 20 years of experience in the Mozambican market, Global Alliance is a leading provider of non-life insurance and recently launched a life insurance offering. In 2008, it received the KPMG Award for the fastest growing company in Mozambique. In 2010, Global Alliance generated premium income of over U$25 million. Read more


Activa takes over Global Alliance Insurance Ghana

June, 2009 - by Geoffrey Opoku-Darko

Africa's insurance giant, Activa Assurances of Cameroon has taken over Global Alliance Insurance Company, rebranding it as Activa International Insurance Company (Ghana) Limited.
The take-over was largely influenced by the fact that within three years of its establishment in 2005, Global Alliance had climbed to the 11th position in the insurance industry and won the Best Growing Insurance Company Award in Ghana. Read more