Finance Monthly Global Awards 2024. UNITED KINGDOM 61 Simba, could you tell us about the Maksure journey expanding to reach Asia, Africa and UK. Maksure Risk Solutions has grown from a modest operation with only three colleagues focused on personal and SMEs into an Afro-global insurance and reinsurance broking powerhouse, ranking among the leading broking firms on the African continent with a client footprint in more than 47 African countries, Europe, Middle East, south-east Asia, Caribbean and the Americas. Our journey dates back to the year 2013 when we established Maksure Risk Solutions in South Africa, which serves as our headquarters. We went on to establish the engineering centre in Zimbabwe in 2017, where we built the capacity for risk management focusing on power and energy, mining, construction risks, and the oil and gas industries. The following year, in 2018, we established a branch in Ivory Coast to service the French-speaking markets. The UK branch was established in 2020, to act as a gateway to servicing the African markets in the UK. In the same year, we incorporated a Lusophone division resident at our head office in South Africa to service our growing Portuguesespeaking markets. What are the biggest challenges facing the insurance and reinsurance industry from a product development point of view, especially across the UK and Europe? We are an Afroglobal insurance and reinsurance broker searching for risk solutions for emerging markets especially for the African market, so I will respond from this perspective. The gap in providing Afrocentric risk solutions that require capacity from Europe is huge because there are various challenges that include limited quality of underwriting information emanating from Africa as well as the need for minimum premiums. These two key challenges limits the attractiveness of African risks into international markets. Although in our experience some of these risks are lucrative and sustainable they do not present what a typical Managing Director of Maksure Risk Solutions SIMBARASHE MAKWEMBERE for Europe, Asia, and Africa
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