Africa Re - African Reinsurance Corporation

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Africa Re logo
DATE OF CREATION: 24 February 1976
CLASS OF BUSINESS: Life and non life
MAIN UNDERWRITING ZONES: Africa and Middle East
REGIONAL STRUCTURES: Lagos (Nigeria), Abidjan (Côte d’Ivoire), Casablanca (Morocco), Cairo (Egypt), Nairobi (Kenya), Ebène (Mauritius), Addis-Ababa (Ethiopia), Johannesburg (South Africa), Kampala (Uganda), Dubai (United Arab Emirates)

Africa Re : contact

Address: Africa Re Building Plot 1679 Karimu Kotun Street,Victoria Island PMB 12 765 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
 20202021
Turnover804 774845 346
Shareholder’s equity1 017 1061 000 714
Net result55 70938 823

Read also | Africa Re: 2022 results

Africa Re : Turnover 2021 by class of business

In thousands USD
 PremiumsIn %
Fire & engineering317 21037.52%
Motor & accident262 18031.01%
Oil & energy159 40618.86%
Marine & aviation44 6155.28%
Total non life783 41192.67%
Life61 9357.33%
Grand total845 346100%

Africa Re : Capital and shareholding

ShareholdersIn %
African Development Bank (AfDB)8.38%
42 member States34.63%
113 African Insurance and Reinsurance companies33.94%
3 non-African investors23.05%

Africa Re : Technical ratios

 20202021
Net loss ratio 61.79%58.82%
Net management expenses ratio36.06%36.00%
Net combined ratio97.85%94.82%

Read also | Africa Re: substantial improvement in results in H1 2023

Africa Re : management

Dr. Mohamed Ahmed MaaitChairman of the board
Dr. Corneille KarekeziGroup managing director, chief executive officer
Ken AghoghovbiaDeputy managing director, chief operating officer
David MuchaiDirector, finance and accounts
Yvonne PALMDirector of risk management and compliance

Read also | Africa Re: the group activities

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Thu, 06/07/2023 - 08:55
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