Africa Re - African Reinsurance Corporation

Africa Re logo
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

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

Africa Re : Main indicators

In thousands USD
 201820192020
Turnover797 415844 786804 774
Shareholder’s equity917 047975 1981 017 106
Net result31 26999 90455 709

Africa Re : Turnover by class of business

In thousands USD
 Premiums 2019Premiums 2020Parts 2020
Fire & engineering352 777334 09641.52%
Motor & accident244 376228 91028.44%
Oil & energy139 811135 55016.84%
Marine & aviation50 50045 7705.69%
Total non life787 464744 32692.49%
Life57 32260 4487.51%
Grand total844 786804 774100%

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-Share-Capital-2019

Africa Re : Technical ratios

 201820192020
Net loss ratio 61.07%59.60%61.79%
Net management expenses ratio35.86%36.54%36.06%
Net combined ratio96.93%96;14%97.85%

Africa Re : management

Mohamed Ahmed MaaitChairman of the board
Corneille KarekeziGroup managing director, chief executive officer
Ken AghoghovbiaDeputy managing director, chief operating officer
David MuchaiDirector, finance and accounts
Africa-re
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