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Net profit increasing by 39.7% for Africa Re

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Magazine Issue: 
Digital risks, a new challenge for insurers [3]
Magazine date: 
Mar 2015

Africa Re released results for the year 2014. The figures show a net profit of 118.50 million USD, up by 39.7% compared to 2013.

The total of underwritten premiums rose from 670.46 million USD in 2013 to 717.53 million USD in 2014, that is an increase of 7.02%.

These excellent results are due to an improvement in the loss experience in almost classes of business, an increase in the underwritten turnover and good financial results.
The return on investment remained stable at 4.78% in 2014 compared to 4.53% in 2013.

Despite a very competitive environment and a monetary erosion of the main underwritten currencies, the 2014 performance exceeds five-year business forecasts of Africa Re.

Thu, 02/04/2015 - 14:27

Source URL: https://www.atlas-mag.net/en/article/net-profit-increasing-by-397-for-africa-re

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