Africa Re - African Reinsurance Corporation
![]() | 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
Agency | Rating | Outlook |
A.M.Best | A | Stable |
Standard & Poor’s | A- | Stable |
Africa Re : Main indicators
In thousands USD2020 | 2021 | |
Turnover | 804 774 | 845 346 |
Shareholder’s equity | 1 017 106 | 1 000 714 |
Net result | 55 709 | 38 823 |
Read also | Africa Re: 2022 results
Africa Re : Turnover 2021 by class of business
In thousands USDPremiums | In % | |
Fire & engineering | 317 210 | 37.52% |
Motor & accident | 262 180 | 31.01% |
Oil & energy | 159 406 | 18.86% |
Marine & aviation | 44 615 | 5.28% |
Total non life | 783 411 | 92.67% |
Life | 61 935 | 7.33% |
Grand total | 845 346 | 100% |
Africa Re : Capital and shareholding
Shareholders | In % |
African Development Bank (AfDB) | 8.38% |
42 member States | 34.63% |
113 African Insurance and Reinsurance companies | 33.94% |
3 non-African investors | 23.05% |
Africa Re : Technical ratios
2020 | 2021 | |
Net loss ratio | 61.79% | 58.82% |
Net management expenses ratio | 36.06% | 36.00% |
Net combined ratio | 97.85% | 94.82% |
Africa Re : management
Dr. Mohamed Ahmed Maait | Chairman of the board |
Dr. Corneille Karekezi | Group managing director, chief executive officer |
Ken Aghoghovbia | Deputy managing director, chief operating officer |
David Muchai | Director, finance and accounts |
Yvonne PALM | Director 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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