Africa Re's 41st annual ordinary general meeting and results 2018
- delegates from the 41 member African countries
- the African Development Bank (AfDB)
- 114 African insurance and reinsurance shareholder companies
- representatives of the non African three shareholders (Axa, Allianz and Fairfax)
The meeting adopted the 2018 annual report, a year marked by exchange rate volatility and rising natural catastophe risks. In 2018, the African reinsurer reported a 6.77% growth in its turnover at 797.42 million USD.
The incurred losses increased by 9.38% at 461.89 million USD. The net income which amounted to 31.269 million USD fell down by 64.45% compared to the one reported in 2017.
Africa Re Main indicators 2017-2018
In thousands USD| Indicator | 2018 | 2017 | 2017/2018 evolution |
|---|---|---|---|
Gross written premiums | 797 415 | 746 829 | +6,77% |
Net result | 31 269 | 87 982 | -64,45% |
Total assets | 1 664 648 | 1 628 545 | +2,22% |
Shareholder's equity | 917 047 | 902 039 | +1,66% |
Gross incurred losses | 461 892 | 422 259 | +9,38% |
Net incurred losses | 61,07% | 60,41% | +0,66% |
Net combined ratio | 96,93% | 94,87% | +2,06% |
Africa Re: Strategic Plan 2019-2023
The African reinsurance leader has launched its 6th Strategic Plan, which runs from 2019 to 2023. It targets two main objectives: an average growth rate of 6% and a turnover of 1 billion USD by 2023.
Lire aussi| the 41st Ordinary General Assembly of Africa Re
