Just over two-thirds of African insurance CEOs surveyed by ContinentalRe say penetration rates do not matter to them, revealing a troubling disconnect between market behaviour and public policy priorities. African insurance penetration (2.4% for life; 1.1% for non-life) is below global norms, and much lower outside South Africa, leaving millions exposed to climate, health, and income shocks. In agriculture, less than 3% of African smallholder farmers are covered. Meanwhile, informal schemes like tontines or Harambees are still the default safety net for rural and peri-urban households. To close this gap, regulators must build capacity, digitise supervision, and connect informal practices with formal markets. What coordinated push will finally unlock inclusive, resilient insurance at scale?
Key Points :
- How can government–supervisor collaboration turn agriculture and informal sector penetration into a profitable private sector business opportunity?
- What regulatory levers (mandates, digital onboarding, premium subsidies) can scale micro & agriculture insurance?
- How can informal groups be integrated into formal systems, combining trust, reach, and supervision?