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BIHL dominance requires 'enhanced supervision' – FSC

Monday, June 26, 2023 | 490 Views |

Flying high: BIHL has plans to use data and Artificial Intelligence to push its customer-centric, digitisation drive

The Financial Stability Council (FSC) says Botswana Insurance Holdings Limited’s (BIHL) dominant position in the local insurance market poses systemic risks to the sector and the situation needs to be managed through enhanced supervision.

BIHL is the country’s largest diversified financial services group, with its subsidiary, Botswana Life, enjoying a 71% market share and its asset management unit, Bifm, also the largest in its sector with assets under management last measured at P38 billion.

BIHL also has significant shareholding in other leading entities such as Letshego and Botswana Insurance Company.

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BIHL dominance requires 'enhanced supervision' – FSC

The Financial Stability Council (FSC) says Botswana Insurance Holdings Limited’s (BIHL) dominant position in the local insurance market poses systemic risks to the sector and the situation needs to be managed through enhanced supervision.