Sub-Saharan Africa: Major reinsurers’ premiums and shareholder’s equity in 2019

Figures in USD
RankCompanyCountryTurnover2019 shareholder's equity
201920182018-2019 evolution
1
Munich Reinsurance of Africa
South Africa852 765 000762 954 00011.77%223 514 000
2
Africa Re
Nigeria844 786 000797 415 0005.94%975 198 000
3
Swiss Re Africa
South Africa412 992 000265 587 00055.50%51 847 000
4
Genral Reinsurance Africa
South Africa249 105 000191 545 00030.05%154 633 000
5
Hannover Reinsurance Africa
South Africa237 052 000192 861 00022.91%73 318 000
6
Hannover Life Reassurance Africa
South Africa217 226 000200 068 0008.58%61 476 000
7
RGA Re
South Africa216 826 000207 146 0004.67%95 255 000
8
Zep Re
Kenya207 000 000178 500 00015.97%NA
9
GIC RE (1)
South Africa202 028 000138 620 00045.74%86 864 000
10
African Reinsurance Corporation
South Africa183 541 000203 098 000-9.63%58 056 000
11
Kenya Re
Kenya171 359 000144 823 00018.32%312 478 000
12
Continental Re
Nigeria130 597 00093 948 00039.01%82 718 000
13
Grand Re
Zimbabwe *118 421 00021 157 000459.72%76 082 000
14
ZB Re
Zimbabwe *110 317 00019 157 000475.86%89 948 000
15
CICA Re
Togo109 095 00093 153 00017.11%107 342 000
16
Tropical Re
Zimbabwe *100 297 00013 297 000654.28%46 161 000
17
Zep Reinsurance
Zimbabwe *94 020 00016 113 000483.50%166 325 000
18
SCOR Africa
South Africa91 372 00087 209 0004.77%29 865 000
19
FBC Re
Zimbabwe *73 783 00017 456 000322.68%81 424 000
20
Emeritus General Re
Zimbabwe *73 705 00012 641 000483.06%79 886 000
21
WAICA Re
Sierra Leone70 340 00057 972 00021.33%89 371 000
22
First Mutual Re 
Zimbabwe *64 965 00015 911 000308.30%29 131 000
23
Tan Re
Tanzania60 800 00047 954 00026.79%31 442 000
24
East Africa Re
Kenya45 623 00039 099 00016.69%49 646 000
25
Ghana Re
Ghana44 332 00042 353 0004.67%63 896 000
26
NCA Re
Côte d'Ivoire32 348 00030 550 0005.89%23 634 000
27
Continental Re Kenya 
Kenya31 902 00027 922 00014.25%12 833 000
28
Sen Re
Senegal31 703 00029 688 0006.79%19 626 000
29
Waica Re (Ex.Colonnade Re)
Zimbabwe *29 395 000644 0004464.44%70 506 000
30
AVENI Re (2)
Côte d'Ivoire28 172 00028 172 000-NA
31
SCG-Ré 
Gabon25 015 00023 226 0007.70%15 887 000
32
Ethiopian Re (3)
Ethiopia23 785 00023 708 0000.32%25 831 000
33
Globus Re 
Burkina Faso21 636 00018 098 00019.55%8 288 000
34
NamibRe (1)
Namibia21 012 00020 141 0004.32%16 282 000
35
Uganda Re
Uganda13 644 0009 055 00050.68%9 195 000
36
Emeritus Re (Life) (4)
Zimbabwe *12 447 0004 060 000206.58%16 850 000
37
GN Re
Ghana8 337 0007 831 0006.46%21 615 000
38
Ghana Re Kenya
Kenya6 588 0004 779 00037.85%11 074 000
39
Waica Re Kenya
Kenya4 514 000--10 271 000
40
FBC Re Life (4)
Zimbabwe *4 206 000842 000399.52%27 671 000
41
First Mutual Re (Life & Health) (4)
Zimbabwe *3 243 0002 600 00024.73%3 196 000
42
Prima Re
Zambia3 111 0002 763 00012.60%3 395 000
43
Zep Re Life (4)
Zimbabwe *2 268 0001 614 00040.52%1 753 000

(1) Fiscal year ending March
(2) 2018 data
(3) Fiscal year ending June
(4) Shareholder’s equity as at 30 September 2019
NA: not available

* The significant increase in premiums for Zimbabwean reinsurers in 2019 is due to the monetary reforms undertaken by Zimbabwe following the reintroduction of the single currency regime.

Sources: Atlas Magazine and companies

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