Africa Re [4]'s Ordinary General Assembly was held on 26 June 2020. Gathered through an online meeting due to Covid-19, the shareholders approved the accounts of 2019.
The previous year ended with a turnover of 845 million USD, up by 6% compared to 2018. The net result rose from 31.269 million USD in 2018 to 99.1 million USD twelve months later: an improvement of 219.6%. A dividend of 8.8 USD per share will be distributed for the current year.
At 26 million USD, the technical result improved by 26%. In 2019 the combined ratio reached 96.1%, far below the 100.3% average recorded by international reinsurers. The company's shareholder’s equity increased by 6.3% at 975 million USD against 917.047 million USD one year earlier.
Created in 1976, Africa Re is an international financial institution whose capital is held by 41 member states of the African Union, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and 3 global insurance and reinsurance groups (Allianz, AXA and Fairfax). AfricaRe’s headquarters is located in Lagos (Nigeria).
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