Africa Re - African Reinsurance Corporation

Africa Re logo
DATE OF CREATION: 24 February 1976
CLASSES OF BUSINESS: Life and non life
MAIN UNDERWRITING ZONES: Africa and Middle East

Africa Re : contact

Address: Africa Re Building Plot 1679 Karimu Kotun Street,Victoria Island PMB 12765 Lagos - Nigeria
Tel: +234 (1) 280 09 24
Fax: +234 (1) 280 00 74
Email: info [at] africa-re [dot] com
Website: www.africa-re.com

Africa Re : Rating

AgencyRatingOutlook
A.M.BestAStable
Standard & Poor’sA-Stable

Africa Re : Main indicators

In thousands USD
 201720182019
Turnover746 829797 415844 786
Shareholder’s equity902 039917 047975 198
Net result87 98231 26999 904

Africa Re : Turnover by class of business

In thousands USD
 Premiums 2018Premiums 2019In %
Fire & engineering323 760352 77741.76%
Motor & accident259 455244 37628.93%
Oil & energy111 805139 81116.55%
Marine & aviation50 38550 5005.97%
Total non life745 405787 46493.21%
Life52 01057 3226.79%
Grand total797 415844 786100%

Africa Re : Capital and shareholding

ShareholdersIn %
African Development Bank (AfDB)8.4%
41 member States34.5%
112 African Insurance and Reinsurance companies34%
3 non-African investors23.1%
Africa-Re-Share-Capital-2019

Africa Re : Technical ratios

 201720182019
Net loss ratio 60.41%61.07%59.60%
Net management expenses ratio34.46%35.86%36.54%
Net combined ratio94.87%96.93%96.14%

Africa Re : management

Hassan BoubrikChairman of the board
Corneille KarekeziGroup managing director, chief executive officer
Ken AghoghovbiaDeputy managing director, chief operating officer
David MuchaiDirector, finance and accounts
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