Africa Re: results H1 2021
In the first half of 2021, Africa Re has recorded a 7.2% growth in its turnover set at 421 million USD against 393 million USD in late June 2020. This performance is driven by the increase in facultative acceptances, notably in oil and gas, and by the appreciation of some currencies such as the South African rand and the CFA franc.
In H1 2020, the loss ratio improved by 2.7 points from 64.6% to 61.9% one year later. The combined ratio increased by 1.2 percentage points to 96.9%.
During the period under review, the net underwriting result amounted to 9.2 million USD compared to 5.4 million USD recorded in the first half of 2020, which is an increase of 70.3%.
The company's net profit increased by 27% from 18.7 million USD as of 30 June 2020 to 23.7 million USD in H1 2021. Investment products reached 31.3 million USD.
