IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i9p487-493.html
   My bibliography  Save this article

From Fragmentation to Integration: Developing a Coherent Insurance Regulatory Framework for AfCFTA

Author

Listed:
  • Agripah Marangwanda

    (University Of Zambia (PhD Student).)

Abstract

This study delivers a comprehensive analysis of insurance regulatory harmonization by examining the European Union’s Solvency II framework alongside the regional models of CIMA, EAC, and SADC. Employing a rigorous comparative case study approach, this research dissects the institutional frameworks, regulatory mechanisms, and policy strategies of these models to extract actionable insights for the African Continental Free Trade Area (AfCFTA). Data were meticulously gathered from policy documents, academic literature, and in-depth interviews with key stakeholders, including regulators and industry leaders. The analysis reveals that AfCFTA stands to gain significantly from a regulatory framework that marries central oversight with local adaptability, akin to the EU model but nuanced for the African context. The study underscores the strategic value of integrating digital tools and fortifying regional bodies to enhance cross-border insurance activities. This research provides a critical foundation for developing a robust and cohesive regulatory framework under AfCFTA, addressing the complexities of regulatory fragmentation and advancing the creation of a resilient and integrated African insurance market

Suggested Citation

  • Agripah Marangwanda, 2024. "From Fragmentation to Integration: Developing a Coherent Insurance Regulatory Framework for AfCFTA," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(9), pages 487-493, September.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:9:p:487-493
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-9/487-493.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/from-fragmentation-to-integration-developing-a-coherent-insurance-regulatory-framework-for-afcfta/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Guillaume Plantin & Jean-Charles Rochet, 2007. "Introduction to When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation," Introductory Chapters, in: When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation, Princeton University Press.
    2. Robert W Klein, 2012. "Principles for Insurance Regulation: An Evaluation of Current Practices and Potential Reforms," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 37(1), pages 175-199, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cynthia Van Hulle & Hans Degryse & Kristien Smedts, 2017. "Risk-sharing benefits and the capital structure of insurance companies," Working Papers Department of Accountancy, Finance and Insurance (AFI), Leuven 571404, KU Leuven, Faculty of Economics and Business (FEB), Department of Accountancy, Finance and Insurance (AFI), Leuven.
    2. Kirti, Divya, 2024. "When gambling for resurrection is too risky," Journal of Banking & Finance, Elsevier, vol. 162(C).
    3. Eling, Martin & Jia, Ruo, 2018. "Business failure, efficiency, and volatility: Evidence from the European insurance industry," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 58-76.
    4. Guillaume Plantin & Haresh Sapra & Hyun Song Shin, 2008. "Marking‐to‐Market: Panacea or Pandora's Box?," Journal of Accounting Research, Wiley Blackwell, vol. 46(2), pages 435-460, May.
    5. Martin Eling & David Antonius Pankoke, 2016. "Systemic Risk in the Insurance Sector: A Review and Directions for Future Research," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 19(2), pages 249-284, September.
    6. René Doff, 2016. "The Final Solvency II Framework: Will It Be Effective?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(4), pages 587-607, October.
    7. Martin Eling & David Pankoke, 2016. "Costs and Benefits of Financial Regulation: An Empirical Assessment for Insurance Companies," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(4), pages 529-554, October.
    8. David McCarthy & David Miles, 2013. "Optimal Portfolio Allocation for Corporate Pension Funds," European Financial Management, European Financial Management Association, vol. 19(3), pages 599-629, June.
    9. Yu Yan & Michael Faure, 2021. "Government interventions in microinsurance: evidence from China," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 440-467, July.
    10. Fabiana Gómez & Jorge Ponce, 2018. "Systemic risk and insurance regulation," Documentos de trabajo 2018003, Banco Central del Uruguay.
    11. James R. Thompson, 2007. "Counterparty Risk In Insurance Contracts: Should The Insured Worry About The Insurer?," Working Paper 1136, Economics Department, Queen's University.
    12. Alessandro Fiori Maccioni, 2011. "A Stochastic Model for the Analysis of Demographic Risk in Pay-As-You-Go Pension Funds," Papers 1106.5081, arXiv.org.
    13. Christian Thimann, 2014. "How Insurers Differ from Banks: A Primer on Systemic Regulation," PSE Working Papers halshs-01074933, HAL.
    14. Eling, Martin & Jung, Kwangmin, 2020. "Risk aggregation in non-life insurance: Standard models vs. internal models," Insurance: Mathematics and Economics, Elsevier, vol. 95(C), pages 183-198.
    15. Biener, Christian & Eling, Martin & Schmit, Joan T., 2014. "Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development," World Development, Elsevier, vol. 58(C), pages 21-40.
    16. Thorsten V. Koeppl & James MacGee, 2007. "Branching Out: The Urgent Need to Transform Canada’s Financial Landscape and How to Do It," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 251, June.
    17. Pablo Gutiérrez González & Lars†Fredrik Andersson, 2018. "Managing financial constraints: undercapitalization and underwriting capacity in Spanish fire insurance," Economic History Review, Economic History Society, vol. 71(2), pages 567-592, May.
    18. David L. Dicks & James R. Garven, 2022. "Asymmetric information and insurance cycles," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(2), pages 449-474, June.
    19. victor Lyonnet, 2018. "Asset-liability management in life insurance: Evidence from France," Working Papers 2018-12, Center for Research in Economics and Statistics.
    20. Leverty, J. Tyler & Grace, Martin F., 2018. "Do elections delay regulatory action?," Journal of Financial Economics, Elsevier, vol. 130(2), pages 409-427.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:8:y:2024:i:9:p:487-493. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.