Afrexinsure

Insurance Solutions
Tailored for Trade and
Trade-Related Investments

We offer a range of specialized insurance solutions meticulously designed to meet the unique needs of trade and trade-related investments across Africa

Our Business Model

AfrexInsure is an Insurance Manager that undertakes a number of insurance management activities on behalf of risk carriers. AfrexInsure activities and solutionsare on the reinsurance side of the insurance value chain.

Specialty Insurance Solutions

AfrexInsure offers specialty insurance which is different from the traditional commercial insurance coverage. Specialty insurance refers to those classes of insurance requiring specialized underwriting and claims expertise outside of ordinary motor, household, and small commercial insurances. Our solutions provide value for money thus dispelling  the general misconception that specialty insurance is costly and not affordable. Specialty insurance is not intended to be a one size fits all solution and will always be tailor made to fit the needs of the client.

Cargo Insurance
Cargo risks are inherent in most operations, whether marine cargo or land and air transits, and exposure to losses and liabilities that arise from the cargo are a risk to businesses. Afrexinsure’s insurance solutions afford coverage in respect of the property damage to the cargo and associated cargo liability is included.
Construction Insurance
The construction industry is characterized by multiple-risk variables that impact on safety, timing, completion and profitability. Across Africa, the infrastructure growth is significant and construction is an underlying growth industry. Afrexinsure’s insurance solutions will protect these projects from property damage to contractor property, contract works, weather and natural catastrophes and human error, including the associated delay in startup expenses. Separately, the associated third-party liability and associated marine cargo coverage, including marine cargo delay in startup, is also offered.
Operations Insurance
Property owners, operators, managers and developers need to stay competitive in a challenging environment. Afrexinsure offers insurance solutions to insure property damage, weather and natural catastrophes and human error, including the associated business interruption therein. Separately, the associated third-party liability coverage may also be availed.
Energy Risk Insurance
Energy and power companies face significant challenges and wide-ranging risks as the industry continues to transform at a rapid pace. Across Africa, energy demand is growing and Afrexinsure insurance offers coverage for oil and gas infrastructure, as well as conventional and renewable energy assets. The coverage may include infrastructure damage, weather and natural catastrophes and human error, including the associated business interruption therein. Separately, the associated third-party liability coverage may also be availed.

Alternative Risk Solutions

Captive and Cells Insurance Solutions

We help clients build, manage, and administer Captive / Cell insurance solutions. Captive insurance solutions are a form of self-insurance where a company creates its own insurance subsidiary to provide coverage for its own risks, while a cell solution accommodate clients who wish to “rent” a cell for their insurance business rather than set up their own entity.

Our role as a captive/cell insurance manager is to oversee the day-to-day operations of the captive/cell, ensuring compliance with regulatory requirements, managing claims, and providing strategic guidance to the captive’s board of directors. We play a crucial role in the establishment and ongoing management and maintenance of captive/cell insurance solutions. AfrexInsure possess extensive knowledge and expertise in insurance, risk management, and regulatory compliance. Our responsibilities can vary depending on the size and complexity of the captive but generally include the following:

  1. Captive Formation,
  2. Risk Assessment and Underwriting,
  3. Policy Administration,
  4. Claims Management,
  5. Financial Management,
  6. Compliance and Regulatory Oversight, and
  7. Board Support and Strategic Guidance

Industries we serve

Automative

Clothing & Textile

Construction

Communication

Transport & logistics

Religion

Education

Transport & logistics

Financial Services

Environmental Management

Government & NGOs

Marine

Manufacturing

Aviation

Mining

Pharmaceutical & Health

Professions

Technology & Media

Retail & Consumer Goods

Tourism & Hospitality

Our Markets

AfrexInsure’s target market is Africa, covering all Afreximbank’s “Member States.”