African and Middle Eastern reinsurance markets
According to the 2023 reinsurance directory published by Atlas Magazine, the 52 reinsurers domiciled in Africa and the Middle East(1) have accepted 6.654 billion USD of premiums(2) in 2021, an amount that accounts for only 1.8% of the global reinsurance premium.
Africa, which counts 44 reinsurers, has underwritten 4.896 billion USD in premiums compared to 1.758 billion USD for the eight players domiciled in the Middle East.
Figures in USD| Direct insurance premiums (3) | Accepted reinurance premiums 2021 | Reinsurance % | |
|---|---|---|---|
| Africa | 74 190 000 000 | 4 896 065 000 (2) | 6.19% |
| Middle East | 61 715 000 000 | 1 758 397 000 (2) | 2.77% |
| World | 6 860 598 000 000 | 374 000 000 000 (4) | 5.16% |
(1) Middle East: Bahrain, Jordan, Kuwait, Lebanon, Oman, Saudi Arabia and Turkey
(2) Reinsurance premiums accepted by reinsurers based in Africa and the Middle East
(3) Direct insurance premiums, Swiss Re estimate
(4) Source: 2022 annual report of the Association of Reinsurance Professionals in France (APREF)
