Women are the lifeblood of any economy. From the petty traders on the street to the ones sitting on the Boards of organisations, it has been remarkably proven that not only are they nation builders, but they are also pillars, charting the courses of development and growth in any industry.
This is true even in a seemingly obscure industry as the African insurance industry. With a penetration rate of only 1%, the continent’s insurance industry suffers from severe underdevelopment as it struggles to keep up with the pace of its contemporaries in financial services, especially banking and fintech.
This year, in commemoration of International Women’s Day 2025, whose theme is “Accelerate Action”, we are shining a light on some of the female trailblazers in the continent’s insurance industry.
We intend to point out women who are doing remarkable work in the insurance industries across different countries on the continent. By this, we hope to showcase how these women are not only thriving but also etching their names in the plains of the continent’s insurance field.
By showing the remarkable work they have done in African insurance’s difficult terrain, we hope that this ignites and sustains the conversation around how more women can come into the industry and work towards making the it one that is more acceptable and accessible for Africans.
In compiling this list, we considered African women who are in charge of government institutions which either regulate or carry out insurance business and chief executive officers or managing directors in private insurance companies
Sabihah Mohamed, CEO Corporation for Deposit Insurance, South Africa
Ms Sabihah Mohamed is the Chief Executive Officer (CEO) of the South African Reserve Bank’s (SARB) Corporation for Deposit Insurance (CODI). She is the pioneer CEO of the SARB’s subsidiary and has occupied this position since January 2024.
As a subsidiary of the SARB, the CODI’s major objective is to ensure that deposits in commercial banks are insured and secured, preventing the loss of customers’ monies should the bank or financial institution run into liquidity problems.
Before stepping into the role of the CEO, Sabihah held the position of the Policy Manager of the corporation, where she was actively involved in the planning and coordination of the implementation of research into international best practices for deposit insurance.
Her work raised awareness of the importance of deposit insurance and was instrumental in the setting up of the CODI as a corporation with a special focus on deposit insurance, distinct from general financial services at the SARB.
She holds a Master’s of Science (M.Sc) in Financial Management from the SOAS University of London and an M.Phil in Future Studies from Stellenbosch University, South Africa.
Delphine Traoré, CEO Sanlam Allianz General Insurance, Africa
Burkina Faso’s Delphine Traoré was appointed the CEO of Sanlam Allianz General Insurance in September 2023, after a successful merger of Allianz and Sanlam insurance companies in Africa. She oversees the activities of the company in 15 African countries and was named among the 100 most reputable Africans in Reputable Poll International’s 2025 edition.
Before this appointment, she had held other strategically important positions in Allianz Africa including being its first African woman to be the Regional CEO from November 2021 to August 2023. As a testament to her capacity, during the time she served as regional CEO, she was also serving in the positions she previously held as a Member of the Board of Directors and Chief Operating Officer, which she has held since 2017.
By virtue of this remarkable position, she was the only black woman on the Executive Committee (Comex) of the Allianz group at the time.
Apart from her strong influence at Allianz and currently Sanlam Allianz, she has also shown impeccable leadership qualities in different insurance organizations across Africa. From May 2018 to September 2021, Delphine served as vice president and then President of the African Insurance Organization (AIO).
She was also the President of the Insurance Institute of South Africa from 2015-2017.
In 2024, true to her “first” nature, she was appointed the first black female president of the Insurance Institute of South Africa (IISA).
She sits on the Boards of different companies and is passionate about women’s inclusion and leadership in both business, finance and insurance.
Wided Belhouchet, President, CASH Assurance, Algeria
Wided Belhouchet rose to the rank of President/Director General of Compagnie d’Assurances des Hydrocarbures (CASH Assurances) in 2018 and has held that position to date. By this appointment, she became the first woman to hold the position of the CEO of an insurance company in Algeria.
She started her insurance career at CAAR Insurance as the Head of Research, Finance department. She rose through the ranks to become the Reinsurance Central Manager of the company. From 2009-2011, she acted as the Reinsurance Manager of Alliance Assurances Algiers, after which she began as the Retrocession Manager at Compagnie Centrale de Réassurance (CCR).
On October 17th 2018, she resumed as President of CASH Assurances.
She holds a Postgraduate degree in insurance from Institut de Financement et Développement du Maghreb Arabe, Tunis.
Yetunde Ilori ACII, President Chartered Insurance Institute of Nigeria
Mrs Yetunde Ilori, Associate of the Chartered Insurance Institute of both London and Nigeria and Fellow of the Chartered Insurance Institute of Nigeria (CIIN). She is currently the President of CIIN), after assuming the role in 2024.
After getting her degree in Actuarial Science from the University of Lagos in 1987, she started her insurance career in 1985 at Trans Nigeria Assurance Co. Ltd, Ibadan. By 1997, she became Head of the Actuarial, Research & Statistics and Life Department at Crusader Insurance.
In January 2004, she resumed office as the CEO of Axa Mansard Insurance Plc (Nig) and held this position for 13 years till 2017, contributing immensely to the growth and development of the company.
This is evident as the company’s gross premium income grew from ₦27 million ($212, 589) to over ₦13 billion ($32.5 million) during her time as the CEO of the company. The firm also expanded into various new product lines.
Continuing as a pillar of excellence in the Nigerian insurance industry, after the expiration of her tenure at Axa Mansard, she became the Director General/CEO of the Nigerian Insurers Association in August 2017.
Alongside her new role as President of CIIN, she is also serving as the First Female DG/CEO and the First Female Chairperson of the Life Committee of the African Insurance Organization.
Recognising the importance of technology in insurance, she stated that one of the core focuses of her tenure as President of CIIN will be to facilitate and leverage the deployment of technology in the country’s insurance sector.
Dr Abiba Zakariah, Acting Commissioner, National Insurance Commission, Ghana
Dr Abiba Zakariah is the acting commissioner of Ghana’s National Insurance Commission (NIC), the regulatory body for insurance business within the country. She was appointed in January 2025.
Before accepting this role, she was formerly Group Chief Operating Officer (COO) of WAICA Reinsurance Corporation, the reinsurance company owned by members of the West African Insurance Corporation.
She started her career as an insurer in the State Insurance Corporation in 2000 and by 2009, she became the Managing Director of Ghana Reinsurance Plc. She held this position until 2017.
By 2019, she resumed as the Group COO at WAICA before resigning to head the NIC. She holds a BSc (Hons.) Degree and an MBA from the University of Ghana, Legon. She also got a Doctorate of Management Studies degree from the Swiss School of Management.
Petronella Karuaihe – Martin, Managing Director, NamibRe and President, AIO
Ms. Petronella (Patty) Karuaihe-Martin, the 6th female of AIO, who resumed the office on June 5th, 2024, has over 30 years of experience as a finance professional with experience in different finance fields, including tax, insurance, audit and academia. She also has experience in Namibia’s telecom industry.
After graduating from the University of Western Cape, South Africa, with a bachelors of degree in Commerce Finance and Auditing in 1991, she proceeded to graduate from the University of KwaZulu-Natal with an Honours Bachelor’s degree still in Commerce majoring in Finance and Auditing in 2003.
Starting as an Article Trainee in EY in 1992, she moved to Telecom Namibia in 1995 to accept a position as its regional manager (finance and administration). By 2003, she moved to TransNamib as the Senior Manager (internal audit). She also lectured at the University of Namibia between 2002 and 2003 after which she went on to work at PwC Namibia for 10 years.
In 2014, she was appointed the Managing Director (MD) of the National Reinsurance Corporation (NamibRe). During her time as the Corporation’s MD, it recorded an increase in its assets from US$10 million to US$50 million in the first five years.
Between 2018 and 2019, she served as the Chairman of the Organisation of Eastern and Southern African Insurers.
In May 2023, she served as the Vice President of AIO, and by June 5th 2024, was returned as the organization’s President.
Amongst her many recognitions, she was named a Business Insurance Women to Watch by EMEA in 2017. In 2023, she was named among the Angaza Forum’s Top 10 Women to Watch in the Insurance Sector.
Rosalie Logon, General Manager, Atlantique Assurance GTA, Ivory Coast
Rosalie Logon is the General Manager of Ivory Coast’s Atlantique Assurance GTA, a position she has held since 2009.
She started her insurance career as a miscellaneous risk claims writer at the African Union of P&C Insurance in 1993. She rose through the firm’s rank to become a technical writer and later an operations brokerage manager.
In 2006, she joined Central Mutual Insurance as the company’s Director of brokerage and network before being promoted to sales and marketing director.
As a result of her remarkable work at the African Union of P&C, when two entities of the company were merged to form Atlantique Assurance in 2009, she was appointed as its General Manager in January 2009.
Through her visionary leadership, Atlantique Assurance GTA has gown to be the 6th largest insurance company in Ivory Coast. It reported a turnover of $32.5 million in 2024.
Besides her work at Atlantique, she also serves on the Board of the Association of Insurance Companies of Ivory Coast (ASACI). As a recognition of her work in the country’s insurance sector, she was decorated as the Knight of the Order of Agricultural Merit of Ivory Coast.
In 2024, she was appointed to represent Ivory Coast at the Federation of African National Insurance Companies.
Catherine Karimi, CEO ICEA LION Life Assurance Company, Kenya
Catherine Karimi was appointed CEO/Principal Officer of Kenya’s ICEA LION Life Assurance company in May 2024 after a successful run as the CEO/Principal Officer of APA Life Assurance for 7 years from February 2017 – April 2024.
After a short stint in teaching in 1998, Catherine ventured into insurance, starting off as the supervisor, group life and pensions business at Jubilee Insurance, Kenya in 1998. She rose through the ranks of the company to become its team lead of the retail life business in 2009 and a year later, the operations manager, a role she held until October 2014.
After a successful 16-year service at Jubilee Insurance, she moved on to be the Chief Operations Officer at The Kenyan Alliance Insurance Company Ltd for 2 years. During this time she developed individual life sales channels for the company and doubled the life assurance business. Between April 2016 and January 2017, she was the company’s Acting Managing Director.
She moved on to be APA Life Assurance’s first woman CEO where she was the first woman to win the Think Business Insurance Awards in 2020 as she navigated the company’s finances through a difficult period in Kenya’s insurance market. She also won the Top 10 Angaza Awards for East Africa Women in Finance in 2021.
