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 |
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
Agency | Rating | Outlook |
A.M.Best | A | Stable |
Standard & Poor’s | A- | Stable |
Africa Re : Main indicators
In thousands USD2018 | 2019 | 2020 | |
Turnover | 797 415 | 844 786 | 804 774 |
Shareholder’s equity | 917 047 | 975 198 | 1 017 106 |
Net result | 31 269 | 99 904 | 55 709 |
Africa Re : Turnover by class of business
In thousands USDPremiums 2019 | Premiums 2020 | Parts 2020 | |
Fire & engineering | 352 777 | 334 096 | 41.52% |
Motor & accident | 244 376 | 228 910 | 28.44% |
Oil & energy | 139 811 | 135 550 | 16.84% |
Marine & aviation | 50 500 | 45 770 | 5.69% |
Total non life | 787 464 | 744 326 | 92.49% |
Life | 57 322 | 60 448 | 7.51% |
Grand total | 844 786 | 804 774 | 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
2018 | 2019 | 2020 | |
Net loss ratio | 61.07% | 59.60% | 61.79% |
Net management expenses ratio | 35.86% | 36.54% | 36.06% |
Net combined ratio | 96.93% | 96;14% | 97.85% |
Africa Re : management
Mohamed Ahmed Maait | Chairman of the board |
Corneille Karekezi | Group managing director, chief executive officer |
Ken Aghoghovbia | Deputy managing director, chief operating officer |
David Muchai | Director, finance and accounts |
Read also | "Africa Re: a success story"

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