African Insurance Leaders Urged to Innovate and Unite at 10th Continental Reinsurance CEO Summit

In his opening address, Lawrence Nazare, Group CEO of Continental Reinsurance Holdings, emphasized the necessity for a bold leadership shift that responds to Africa’s unique challenges.

The 10th edition of the Continental Reinsurance CEO Summit concluded with resounding energy in Cape Town, South Africa, as industry leaders from across the continent gathered under the theme “Africa in Action.” This milestone event not only commemorated Continental Reinsurance’s 40th anniversary but also ushered in a transformative vision for the future of the African re/insurance landscape.

Over 100 top executives, regulators, and thought leaders convened for two days of rich dialogue, focusing on the imperatives of innovation, adaptive leadership, and regional collaboration as the industry grapples with dynamic socio-political, environmental, and digital disruptions.

Urgent Call for Agile and Inclusive Leadership

In his opening address, Lawrence Nazare, Group CEO of Continental Reinsurance Holdings, emphasized the necessity for a bold leadership shift that responds to Africa’s unique challenges. “Leadership in African insurance requires partnership. We must define guidelines that enable us to cope with the various changes taking place in our societies,” he asserted, calling for collective solutions in the face of fragmentation and volatility.

Nazare also spotlighted the need for inclusive partnerships to tackle the continent’s growing risk landscape, while embedding innovation and sustainability into organizational DNA.

AI and the Future of Insurance Innovation

A major highlight of the Summit was the exploration of Artificial Intelligence (AI) as a catalyst for transformation in the sector. Technology strategist William Mzimba, former CEO of Accenture South Africa and Vodacom Business, delivered a compelling live demo by designing a tailor-made construction insurance product for Nigeria using AI—in less than five minutes.

While showcasing the possibilities, Mzimba warned against pure automation, advocating instead for human-AI collaboration: “We need to build a workforce that combines human empathy with AI-driven efficiency.”

A real-time poll during the Summit revealed:

• 61% of CEOs expressed openness to incorporating AI in underwriting.

• 41% admitted they had yet to implement it, showing a cautious yet growing interest.

Regulatory Leadership and Pan-African Harmonization

The Summit also drew strong participation from regional regulators, who shared their perspectives on innovation, compliance, and climate-resilient governance:

• Godfrey Kiptum, Commissioner of Insurance (Kenya), emphasized inclusive innovation to prevent digital exclusion.

• Olusegun Omosehin, Commissioner for Insurance (Nigeria), urged agility in adapting to economic and geopolitical flux.

• Alhaj Kaddunabbi Ibrahim Lubega (Uganda) and Dr. Grace Muradzikwa (Zimbabwe) highlighted the importance of harmonized regulation and climate-responsive policies to enhance resilience and regional integration.

Rethinking Leadership for the 21st Century

Former General Electric Africa CEO Nyimpini Mabunda challenged attendees to transcend outdated leadership models: “The traditional CEO playbook is outdated. Innovation isn’t a department—it’s a culture.” Mabunda called for purpose-driven leadership that aligns with Africa’s socio-economic contexts and empowers talent across organizational levels.

Transitioning to Risk-Based Capital Frameworks

A technical panel led by David Kirk (MD, Milliman Africa), Jooste Steynberg (South African Reserve Bank), and Cedric Maxwell (Group CRO, Continental Re) unpacked the complexities of adopting Risk-Based Capital (RBC) models.

The consensus: a phased and pragmatic approach is essential to ensure growth, solvency, and policyholder protection across diverse African markets.

Celebrating Journalistic Excellence in Re/Insurance Reporting

In parallel, the event hosted the 10th edition of the Pan-African Re/Insurance Journalism Awards, spotlighting the media’s role in shaping public understanding of insurance.

With over 150 entries from 19 countries—a 29% year-on-year rise—the awards marked a decade of excellence in re/insurance journalism across Anglophone, Francophone, and Arabic-speaking Africa.

Overall Winner & English Print:

• Patrick Alushula – Nation Media Group (Kenya)

  • For his insightful article on cybercrime and the rising role of cyber insurance in Kenya.

Other Winners by Category:

English Broadcast

• Winner: Blessing Ifechukwude – Voice of Nigeria

• 1st Runner-Up: Destiny Onyemihia – Voice of Nigeria

• 2nd Runner-Up: Ridwan Karim Dini-Osman – EIB Network (Ghana)

English Online

• Winner: Okello Jesus Ojala – TND News (Uganda)

• 1st Runner-Up: Nelson Mandela Muhoozi – New Vision (Uganda)

• 2nd Runner-Up: Etornam Agbemor – Pent Media Centre (Ghana)

French (All Formats)

• Winner: RABO Oumarou – Les Editions Sidwaya (Burkina Faso)

• 1st Runner-Up: Ghassan Waïl El Karmouni – Medias24 (Morocco)

• 2nd Runner-Up: Bahwa Ferdinand – Le Journal.Africa (Burundi)

Arabic (All Formats)

• Winner: Eslam Sherif – Almal (Egypt)

• 1st Runner-Up: Ibraheem Issa – Almal (Egypt)

• 2nd Runner-Up: Mohamed Azab Tawfik – Alborsa Newspaper (Egypt)

Dr. Femi Oyetunji Future Talent Award

• Winner: Ayele Addis Ambelu – Africa News Channel (Ethiopia)

  • For his historical deep dive on Ethiopia’s insurance evolution from 1905 to present day.

Lawrence Nazare noted: “The 2025 awards mark a decade of celebrating journalistic talent within re/insurance. This milestone reinforces our commitment to quality reporting and elevating the industry’s public profile across the continent.”

Looking Ahead: Africa Must Lead Its Own Risk and Resilience Agenda

The overarching message from Cape Town was unmistakable: Adapt. Collaborate. Lead.

African insurers must not merely respond to global trends, but shape their own ecosystem—anchored in digital innovation, regulatory foresight, cultural relevance, and a united commitment to pan-African progress.