Africa Re - African Reinsurance Corporation
 | 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
| Agency | Rating | Outlook |
| A.M.Best | A | Stable |
| Standard & Poor’s | A- | Stable |
Africa Re : Main indicators
In thousands USD| 2017 | 2018 | 2019 | |
| Turnover | 746 829 | 797 415 | 844 786 |
| Shareholder’s equity | 902 039 | 917 047 | 975 198 |
| Net result | 87 982 | 31 269 | 99 904 |
Read also | Africa Re: results as of 30 September 2020
Africa Re : Turnover by class of business
In thousands USD| Premiums 2018 | Premiums 2019 | In % | |
| Fire & engineering | 323 760 | 352 777 | 41.76% |
| Motor & accident | 259 455 | 244 376 | 28.93% |
| Oil & energy | 111 805 | 139 811 | 16.55% |
| Marine & aviation | 50 385 | 50 500 | 5.97% |
| Total non life | 745 405 | 787 464 | 93.21% |
| Life | 52 010 | 57 322 | 6.79% |
| Grand total | 797 415 | 844 786 | 100% |
Africa Re : Capital and shareholding
| Shareholders | In % |
| African Development Bank (AfDB) | 8.4% |
| 41 member States | 34.5% |
| 112 African Insurance and Reinsurance companies | 34% |
| 3 non-African investors | 23.1% |
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Africa Re : Technical ratios
| 2017 | 2018 | 2019 | |
| Net loss ratio | 60.41% | 61.07% | 59.60% |
| Net management expenses ratio | 34.46% | 35.86% | 36.54% |
| Net combined ratio | 94.87% | 96.93% | 96.14% |
Africa Re : management
| Hassan Boubrik | 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 | African reinsurers in 2019
