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 USD| 2018 | 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 USD| Premiums 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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