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May 2017 Africa Re is in control of 20% of Nigerian reinsurance premiums. Foreign players, particularly European ones, account for 65% of the market. The remaining 15% are shared between two local reinsurers: Continental Re and Nigeria Re.
Pan African reinsurer is exerting significant efforts in order to develop the local market. Training sessions for the benefit of reinsurance professionals, along with awareness campaigns are often held in the country.
Africa Re has invested more than 90 million USD in several local insurance companies, thus participating in the creation of 570 jobs. The leader of African reinsurance generated 13% of its turnover in Nigeria in 2016.
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