Magazine date:
Jan 2023  | DATE OF CREATION: 2007, Zimbabwe |
| CLASS OF BUSINESS: Non life | |
| MAIN UNDERWRITING ZONE: Africa |
Tropical Reinsurance Company: contact
| Adress: 31 Churchill Avenue - Alexandra Park P.O. Box CY 155 Causeway, Zimbabwe |
| Tel: +263 242 744907/08 |
| Email:reinsurance [at] tropicalre [dot] co [dot] zw |
| Website: www.tropicalre.co.zw [4] |
Tropical Reinsurance Company: rating
| Agency | Rating | Outlook |
| GCR | BBB+ (National business) | Stable |
| GCR | CCC (International business) | Stable |
Tropical Reinsurance Company: main indicators
in thousands USD| 2020 | 2021 | |
| Turnover | 9 549 | 13 126 |
| Shareholder’s equity | 3 844 | 5 405 |
| Net result | 3 561 | 11 081 |
Tropical Reinsurance Company: capital and shareholding (1)
| Shareholders | In % |
| TN Investement | 50 |
| Taquilar Trading | 50 |
 | |
(1) Including share premium
Tropical Reinsurance Company: technical ratios
| 2020 | 2021 | |
| Net loss ratio | 62.29% | -57.69% |
| Net management expenses ratio | 32.42% | 39.84 % |
| Net combined ratio | 94.71% | -17.85% |
Tropical Reinsurance Company: management
| Roseline Nhamo | Chairman of the board |
| Ushe Mungaraza | Managing director |
| Mukai Nyengerai | Head of finance |
| Kelvin Zimbowora | Head of operations |
Exchange rate at 31/12/2021: 1 USD = 81,7866 ZWL
Source: Tropical Re and Insurance & Pensions Commission (IPEC)
Read also | African reinsurers in 2021 [5]
