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

Agripah Marangwanda
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Agripah Marangwanda: University Of Zambia (PhD Student).

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 9, 487-493

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

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:9:p:487-493

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