Africa Re: 2021 results

Africa Re: resultsAfrica Re's 44th Ordinary General Meeting was held on 27 July 2022 in Cairo, Egypt. It is the first face to face meeting after two years of remote meetings due to the Covid-19 pandemic.

The company's shareholders approved the financial statements for the year ending 31 December 2021. Despite a difficult economic environment, the pan-African reinsurer has closed the financial year 2021 with a 5.04% turnover increase. The premium volume has gone from 804.77 million USD in 2020 to 845.35 million USD a year later.

The underwriting result has progressed by 146.21% to reach 34.56 million USD at the end of 2021. The net profit totaling 38.823 million USD has fallen by 30.3% over one year.

The company's shareholders' equity remains almost stable at 1 billion USD.

One of the other resolutions adopted by the general assembly was the appointment of PricewaterhouseCoopers (PwC), Nigeria as Africa Re's auditor for the year 2022.

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