About Africa Re @50
The Leading Pan-African ReInsurer
Company Overview
The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest reinsurer in Africa in terms of net reinsurance written premiums. Africa Re was established on 24 February, 1976 in Yaoundé, Cameroon.
An international Agreement was signed by the Plenipotentiaries of 36 member States of the Organization of African Unity (OAU) and the AfDB with the aim of reducing the outflow of foreign exchange from the continent by retaining a substantial proportion of the reinsurance premiums generated therein.
Ranked 38th in the 2024 list of Top 40 Global Reinsurance Groups and 14th in the 2024 list of Top 15 Global Reinsurance Groups by S&P Global and AM Best respectively, the Corporation has featured on these lists for over a decade.
SHAREHOLDING STRUCTURE
non - regional partners
The non-regional shareholders include leading global insurers and reinsurers from France (AXA), Canada (FAIRFAX) and Germany (SANLAM ALLIANZ SE).
Our Presence
With headquarters in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d'Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius).
Africa Re equally has one (1) Local Office in Addis Ababa (Ethiopia), one Underwriting Representative Office in Kampala, Uganda and three (3) Subsidiaries :
- - Africa Re South Africa Limited (Johannesburg)
- - Africa Retakaful (Cairo)
- - Africa Re Underwriting Agency Limited (Dubai)
Financial Highlights
As at December 2024, Africa Re wrote over US$ 1.2 billion premium income with a net profit of US$ 132.9 million. Its shareholders' equity reached US$ 1.15 billion while its total assets amounted to US$ 1.8 billion.
US$ 1.2 billion
PREMIUM INCOME
US$ 132.9 million
NET PROFIT
US$ 1.15 billion
SHAREHOLDERS' EQUITY
US$ 1.8 billion
TOTAL ASSETS
Ratings
AM Best
A (Excellent/Stable)
Sovereign rating since 2016, reflecting high institutional stability.
S&P Global
A (Strong/Stable)
Consistently strong outlook since 2025 across global markets.
Regional Development
Besides its dedication to professional insurance capacity building and technical assistance to African insurers, Africa Re participates in the equity of major regional development institutions : Africa Export-Import Bank (AFREXIMBANK), Shelter Afrique, African Trade & Investment Development Insurance (ATIDI), Preferential Trade Area Bank (PTA Bank) and invests significantly in African financial markets.
CSR Initiatives
"Up to 2% of Africa Re's annual net profit is used to finance Corporate Social Responsibility initiatives in member countries, with a focus on risk management for development."