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

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  • 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
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. Hartzenberg, Trudi, 2011. "Regional integration in Africa," WTO Staff Working Papers ERSD-2011-14, World Trade Organization (WTO), Economic Research and Statistics Division.
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