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Member, Beacon International Group, Ltd.
PricewaterhouseCoopers L.L.P has said that South African insurers have been looking at Kenya, Nigeria and Ghana for expansion to diversify from their slow-growing home market, Bloomberg reports.
Low insurance take-up and high economic growth estimations are drawing insurers to these countries, said PwC. A PwC executive said expansion into the rest of Africa "continues to be a key trend, with most of the major insurers focusing on selected high-growth markets."