Ranking of African reinsurers in 2015

Magazine Issue:

Magazine date:

Dec 2016

The African insurance industry in 2015: ranking of African reinsurers

in thousands USD

2015 ranking	2014 ranking	Company	Country	Turnover	Shareholder’s equity	Combined ratio	A.M. Best rating	S&P rating
1	1	Africa Re	Nigeria	689 291	780 071	81.1%	A-	A-
2	2	Munich Reinsurance of Africa	South Africa	388 455	204 868	85%	-	AA-
3	3	Société Centrale de Réassurance	Morocco	255 540	218 570	92%	B++	BBB-
4	5	Compagnie Centrale de Réassurance	Algeria	237 674	241 070	79%	B+	-
5	-	African Re Corporation (ARCSA)	South Africa	170 750	42 627	88%	-	A-
6	6	Hannover Life Reinsurance Africa	South Africa	156 588	38 233	-	-	BBB+
7	4	Hannover Reinsurance Africa	South Africa	155 587	48 151	80%	-	BBB+
8	7	General Reinsurance Africa	South Africa	144 846	75 483	95%	A++	AA+
9	11	Zep Re (PTA Re)	Kenya	138 756	169 683	-	B+	-
10	9	Kenya Re	Kenya	129 924	218 188	93%	B+	-
11	10	Swiss Re Life & Health Africa	South Africa	122 500	30 500	-	-	-
12	12	Continental Re	Nigeria	100 448	79 070	67%	B+	-
13	13	RGA Reinsurance	South Africa	98 047	13 228	99%	-	-
14	14	Scor Africa	South Africa	72 350	13 065	97%	-	AA-
15	15	CICA-Re	Togo	55 288	60 940	86%	B	-
16	16	Tunis Re	Tunisia	49 499	91 361	91%	B+	-
17	17	East Africa Re	Kenya	36 857	30 003	-	B	-
18	18	Tan Re ⁽¹⁾	Tanzania	34 527	22 592	119%	-	-
19	22	Waica Re	Sierra Leone	33 455	38 389	87,27%	-	-
20	19	Ghana Re	Ghana	32 881	62 281	106,5%	B	-
21	20	Aveni Re	Côte d’Ivoire	30 737	22 712	-	-	-
22	21	Sen Re	Senegal	27 331	13 346	-	B-	-
23	23	NCA Re	Côte d’Ivoire	24 240	13 855	-	-	-
24	24	SCG Ré	Gabon	23 830	12 299	62%	-	-
25	29	GIC Re South Africa ⁽¹⁾	South Africa	22 069	5 320	115%	-	BB+
26	25	ZB Reinsurance	Zimbabwe	20 885	9 475	86.8%	-	-
27	26	FMRE Property & Casualty	Zimbabwe	19 806	6 903	87.7%	-	-
28	27	FBC Re	Zimbabwe	17 799	11 844	82.1%	-	-
29	28	Namibre⁽¹⁾	Namibia	14 195	11 068	93.1%	-	-
30	30	Tropical Re	Zimbabwe	14 144	3 723	94.9%	-	-
31	31	Globus Re	Burkina Faso	12 527	5 666	-	-	-
32	32	National Re	Sudan	12 000	3 200	-	-	-
33	35	Grand Re	Zimbabwe	10 333	13 151	65.1%	-	-
34	33	Zep Re	Zimbabwe	9 407	3 504	76.8%	-	-
35	34	Baobab Reinsurance	Zimbabwe	8 791	30 799	149.1%	-	-
36	36	Uganda Re	Uganda	6 545	4 134	76.5%	-	-
37	37	Baobab Life & Health	Zimbabwe	5 136	8 970	-	-	-
38	33	FMRE Life & Health	Zimbabwe	3 629	535	-	-	-
39	39	Nigeria Re	Nigeria	3 552	95 746	130.8%	-	-
40	40	Prima Re	Zambia	3 032	3 563	133.6%	-	-
41	41	Colonnade Re	Zimbabwe	2 661	1 715	85.9%	-	-
42	42	Emeritus Re	South Africa	1 112	962	108%	-	-

⁽¹⁾Figures at 31 March 2016 Sources: Standard& Poor’s, A.M.Best, compagnies'reports