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Nigeria-based Continental Reinsurance P.L.C. group managing director Femi Oyetunji has said in an interview that the level of insurance penetration in Africa, apart from South Africa, is very low, reported Nigeria's BusinessDay.
Mr. Oyetunji said that the Nigerian insurance sector needs to address concerns such as introducing products that will be resistant to inflation or devaluation. Each nation in the continent must have a national policy on insurance, said Mr. Oyetunji, adding that, the reinsurer would push for such a policy in Nigeria.