International insurance in the spotlight at InsureTalk60

InsureTalk60, which took place on 19 March 2026, covered the important topic of international insurance. Our host for the session was CN&CO founder, Carel Nolte, who spoke proudly about the webinar series reaching its 60^th session.

“The platform was originally created in the middle of Covid – when the world was uncertain, disconnected, and quite frankly, a pretty lonely place – as a way to keep the insurance community talking, learning and staying connected,” he said.

He highlighted how InsureTalk has grown into a global forum with thousands of participants. InsureTalk 60 attracted more than 2 500 professionals from across the insurance spectrum.

“Consistency matters,” he said. “Showing up every time is important in an industry where relationships remain central.”

Carel acknowledged the support of our headline partner, Crawford Dougall, and our event partner, SSP.

Simon Dougall of Crawford Dougall opened with a warm, personal introduction, joking that having “three kids under three at 30 is somewhat a bit of stupidity,” before turning to his core theme: helping South African retail brokers understand how international insurance markets intersect with local realities.

“The broker’s role is fundamentally fiduciary,”he said. “Your clients’ insurance interests and needs are paramount, particularly when structuring complex risk-transfer programmes that balance capacity, pricing, underwriting appetite and regulatory considerations.”

He described the South African insurance market as “an incredible marketplace to be in,” highlighting its long history, scale and sophistication.

“With annual premiums running into hundreds of billions of rand and strong regulatory oversight, local expertise is globally competitive, relationship-driven and highly innovative,” he said. “The sector’s strength lies in its ability to design specialised products across industries such as mining, infrastructure, aviation and renewable energy, all in the hopes of serving and protecting our clients.”

Turning to global placements, Simon focused particularly on the London market and Lloyd’s as a premier specialist insurance marketplace.

“International capacity becomes relevant when local insurers’ risk appetite or solvency limits are reached, or when certain covers are unavailable domestically,” he said. “In such cases, brokers must carefully weigh the rationale for offshore placement, including financial strength requirements from lenders or shareholders, and the impact of market cycles.

“Pricing alone shouldn’t be a driver, even in softer global conditions.”

Simon concluded by cautioning against over-reliance on sub-investment-grade capacity and complex fronting arrangements, urging transparency with clients about who ultimately carries risk and pays claims.

“While international markets play an essential role in insuring large and complex exposures, offshore placement is not the default. Instead, brokers should prioritise local support while introducing global capacity where justified by scale, complexity or credit requirements, always guided by the principle that the interest of your client remains at the forefront.”

Insurance as an enabler

Simon’s colleague at Crawford Dougall, Sophie Maggs, brought a refreshing and optimistic perspective to the discussion.

“Insurance professionals often find themselves associated with crisis and risk, yet renewable energy in South Africa offers a rare good news story where the industry has played a meaningful role in growth and development,” she said.

Drawing on nearly two decades of experience in complex infrastructure and energy programmes, she described how the sector has helped add significant new capacity to the national grid, easing pressure on Eskom while enabling cleaner and more cost-effective power generation.

“The scale and technical complexity of renewable projects, such as large solar farms, wind installations and battery storage systems, create substantial and evolving risk exposures,” she said. “These range from construction challenges and contractor insolvency to extreme weather and catastrophic equipment failure.

“Insurance therefore becomes a critical enabler, not only to transfer risk but also to unlock project finance, as lenders rely on robust cover and strong security ratings before committing capital to new developments.”

Reflecting on the energy crisis that peaked in 2023, Sophie highlighted how stalled projects and ageing coal infrastructure had left the country facing prolonged load shedding.

“Legislative reforms and rapid market mobilisation subsequently triggered an influx of renewable developments, forcing insurers, brokers and financiers to adapt quickly,” she said. “Although the South African market initially lacked sufficient experience and capacity to absorb these risks, ongoing claims experience, skills development and collaboration have strengthened local capability, allowing more placements to remain onshore.”

At the end of the day, Sophie said international capacity would continue to play an essential supporting role as renewable expansion accelerates and new risks emerge, from grid constraints to innovative trading models and parametric solutions.

“Ultimately, the sector’s progress has shifted national sentiment, positioning South Africa as an increasingly attractive destination for energy-intensive investment and allowing brokers to speak not only about protection in times of crisis but also about insurance as a driver of economic growth and transformation.”

Regulatory update

Samantha Williams of the Financial Intermediaries’ Association of Southern Africa (FIA), provided a high-level regulatory update.

The Conduct of Financial Institutions (CoFI) Bill remains a central focus, with the FIA continuing to engage in FSCA transition working groups and submissions on issues such as fit and proper requirements, complaints management and the evolving risk and compliance framework.

“Timelines for implementation remain uncertain,” she said, adding that a new integrated regulatory reporting solution is being piloted.

“Intermediaries are urged to participate so their input can help shape how the framework is ultimately applied in practice.”

Sam also highlighted several other developments affecting the industry, including:

Continued litigation around employment equity sector targets
Proposed amendments to the B-BBEE codes introducing a potential transformation fund option
Finalisation of updated Sasria material damage wording.

Additional reminders covered the implementation of higher healthcare broker fees, ongoing uncertainty around National Health Insurance and the lapse of crypto asset service provider exemptions, emphasising that “there’s a lot in motion right now” and encouraging members to stay engaged and informed through FIA channels.

Increasing complexity

Next up was FAnews editor Rianet Whitehead, who reflected on the current dynamics shaping the short-term insurance sector

“Advice, underwriting, communication and risk management are becoming more complex rather than less, despite the growing influence of technology and artificial intelligence,” she said. “And while innovation is transforming underwriting and accelerating risks such as cyber exposure, it is also reinforcing the importance of professional judgement and expertise.”

In this environment, she argued, brokers remain central to helping clients interpret policy wordings, understand liabilities and navigate increasingly layered risk conversations.

Rianet also discussed recent cases that underscore the critical role of accurate communication and diligent record-keeping, particularly where policy changes or requirements are not clearly conveyed to clients.

Looking ahead, she said the industry needs to stay alert to evolving regulation, engage in collaborative platforms such as major industry conferences and celebrate initiatives that showcase emerging talent.

“The broker’s role is not diminishing,” she concluded, “but rising to meet the moment as clients seek clearer guidance and stronger advice in an uncertain and rapidly changing environment.”

Attendees on the call were treated to a special clip of Vuvu Mpofu performing Puccini’s “O Mio Babbino Caro” at the 2026 RMB Starlight Classics, which was recently held at the Vergelegen Wine Estate in the Cape Winelands. (Read Carel’s account of the event here.)

Amit Khilosia of Africa Speciality Risks joined us from London to share his insights into the global insurance environment.

Amit reflected on his long personal and professional journey across African insurance markets, describing how early experiences in South Africa shaped his belief in the importance of partnerships with local brokers and insurers.

“International capacity, particularly through the Lloyd’s market, has historically played a complementary role in supporting innovation, enabling new underwriting models and helping grow specialist insurance offerings without competing directly with domestic players,” he said.

He went on to outline the vision behind building an Africa-focused underwriting business designed to deploy global capacity in ways that genuinely understand regional realities.

“Central to this approach is hiring African talent, placing decision-makers on the ground and addressing protection gaps in areas such as political risk, trade credit and emerging cyber exposures,” he said. “By positioning South Africa as a regional hub, brokers and clients can gain faster access to strong security paper while retaining local relationships and technical expertise.”

Concluding with a practical illustration, Amit described how integrated insurance solutions can support entire value chains, using agricultural supply routes as an example where parametric, property and credit covers work together to enable trade and protect livelihoods.

“Ultimately,” he concluded, “accessible underwriting, regional presence and collaborative market development can play a meaningful role in strengthening economies across the continent, with South Africa acting as a cornerstone for broader African growth.”

The AI transformation

Clinton Da Costa Brown of SSP Worldwide was up next. He focused on the accelerating impact of artificial intelligence on global and local insurance markets, highlighting the fact that the conversation has moved beyond experimentation into real operational change.

“The global P&C sector, now worth about 1.8 trillion US dollars, is undergoing a shift from traditional risk modelling to a combined approach where predictive AI and generative AI work together to transform underwriting, pricing and claims processes. This evolution marks a tipping point, with AI no longer a future concept but an enterprise capability already deployed at scale by most insurers.”

Clinton highlighted how predictive models analyse risk signals and behavioural data, while generative tools translate those insights into real-time decisions, improving consistency, speed and precision.

“Claims present the greatest immediate opportunity, as automation, fraud detection and document analysis can significantly reduce turnaround times and improve customer outcomes.

“At the same time, more scientific pricing and explainable decision-making frameworks are becoming essential, ensuring insurers can justify AI-driven outcomes to regulators and policyholders alike.”

Clinton concluded by warning that South Africa risks lagging behind global peers due to legacy systems, limited pricing sophistication and slower digital transformation.

“The real threat is not just inefficiency, but declining competitiveness and widening protection gaps if innovation does not keep pace. Responsible governance, transparency and strategic investment in intelligent pricing, automation and customer-centric distribution will define the next age of insurance as AI continues to reshape the industry.”

Guests were treated to more RMB Starlight Classics hits after InsureTalk closed, leaving everyone revitalised and upbeat about insurance – and life in general.

To watch the full recording, click on the video link below: