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Building Local Capacity: The Push to Domicile Natural Gas Insurance Premium in Africa

Africa's natural gas sector is attracting $250+ billion in capital investment through 2035, yet 70-85% of associated insurance premiums-approximately $1.8-2.4 billion annually-flow offshore to London, Munich, and Bermuda markets. This capital flight is ending. Nigeria enacted comprehensive insurance reform in 2025 mandating local placement. Ghana, Kenya, and Mozambique have strengthened retention requirements. South Africa is revising domiciliation thresholds.

The New Currency of Energy

A gas field is a dormant national asset. A financial guarantee is a catalyst. When strategically connected, they form an unstoppable engine for progress. The challenge across many African energy projects has not been potential but perceived and unmanaged risk- the factor that restricts capital inflow and delays execution.
Latest Insights ▸
⛽ Energy markets rebound as African crude gains traction. ⚙️ Insurers rethink capacity in specialty risk underwriting. 💡 EY unveils new risk framework for Oil & Gas sector players. 🌍 Strategic energy investment outlook reshaping Africa’s upstream deals. 🏗️ Mining and infrastructure insurance solutions redefine regional portfolios.