Africa Re, Results as at September 30, 2016
In the third quarter of 2016, Africa Re posted a 7.6% decline (in US dollar) in its turnover which dropped from 501 million USD in the same period in 2015 to 463 million USD. This decrease is mainly due to the depreciation of local currencies against the dollar as well as the termination of certain unprofitable businesses on the sub-Saharan markets.
In line with this downward trend, the reinsurer's technical result declined from 13.5 million USD as at 30 June, 2016 to 0.093 million USD three months later. However, the investment income comes out to be positive, with a spectacular increase of 65%.
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