Africa Re: 2022 results

Africa Re has ended the financial year 2022 with a 12.59% increase in its turnover. The premium volume went from 845.35 million USD as at 31 December 2021 to 951.79 million USD one year later.

This turnover growth was driven by the African countries' economic recovery following the Covid-19 pandemic.

The net profit declined by 38.87% to 23.73 million USD, compared with the 38.82 million USD posted at the end of 2021. This drop was mainly due to the currency depreciation's negative impact on the Group's financial statements.

The underwriting result improved by 18.63% to 41 million USD.

During the period under review, the company's assets and shareholders' equity respectively amounted to 1.994 billion USD and 991.063 million USD.