On February 23, 2021, Allianz Africa, in partnership with AGCS, organized a virtual conference to share the principal insights of the 2021 Allianz Risk Barometer. This yearly survey collected the feedback of around 3,000 experts, Risk managers, brokers, insurers and clients to know what are the most important risks they could face this year.
It was not a surprising information that the Pandemic outbreak and Cyber incidents are at the top. But what are the interpretations, and most importantly, the advice of Allianz experts after the report has been published?
Ludovic Subran, Chief Economist at Allianz SE, indicated that vaccinating people is the best investment that will determine the growth shape, speed, and quality of the economy. He also added that customer confidence will be the key to unleash excess savings and boost consumption in 2021. According to the situation, vaccination should become a public good because it is a way for global recovery, and will help avoid another lockdown.
So regarding the Economic situation, Dr Selin Ozyurt, Senior Economist France-Africa at Euler Hermes, mentioned that each country must diversify its economy in order to become more resilient and go faster in case of crisis. She revealed that investors have a good appetite to invest in Africa but they are more selective, so they will focus on government that have good policy. Furthermore, Dr Selin Ozyurt pointed out to job creation and greater access to finance as a key to prevent social unrest.
After a short video, Thusang Mahlangu, AGCS Africa CEO and Moderator of this virtual conference as well as Senzile Ndlozi, AGCS Africa Business Development Manager, presented the 2021 Allianz Risk Barometer report and focused on the Top 10 Global business risks in the world. In Africa, Business Interruption, pandemic outbreak and Cyber incidents are the Top trio risks.
Last but not least, Arthur Yao, Regional Chief Underwriting & Reinsurance Officer at Allianz Africa, took the floor to say that Allianz is committed to “maintain service delivery in these challenging times and support its customers”, in accordance with the Underwriting rules.
