Africa Re

African Reinsurance Corporation, generally known as Africa Re, is a reinsurance company based in Lagos, Nigeria. Africa Re was founded on 24 February 1976 in Yaounde, Cameroon[3] making it Africa's first Continental Reinsurer.[4] The company operates in 41 countries of the African Union through approximately 107 insurance/reinsurance companies. In September 2010, Africa Re launched its subsidiary company African Takaful Reinsurance Company (Africa Retakaful).[5] In May 2018, Africa Re launched a young insurance training programme (YIPP).[6]

African Reinsurance Corporation
TypeAfrican Reinsurance Corporation
IndustryFinancial services
Founded24 February 1976 (1976-02-24)
HeadquartersLagos, Nigeria
Key people
Corneille Karekezi (CEO) Hassan Boubrik (Chairman)
ProductsReinsurance, insurance, asset management
RevenueUS $688 million (2017)[1]
US$177 million (2017)[2]
Total assetsUS$2,912 million (2017)[2]
Total equityUS$902 million (2017)[2]
Number of employees
243 (2017)[2]
WebsiteHomepage

Ownership

As of 31 December 2015, the shares of the stock of Africa Re were held by:[1]

Africa Reinsurance Corporation Stock Ownership
RankName of OwnerPercentage Ownership
141 AU Member States34.60
2111 African insurance and reinsurance companies33.84
34 Non-African Investors123.15
4African Development Bank8.41
Total100.00

Note:

1 – The non-African investors are Fairfax Financial, AXA, PROPARCO and IRB Brasil Re.

Governance

Africa Re is governed by a ten-person Board of Directors with Hassan Boubrik serving as the Chairman of the group and Corneille Karekezi as the Group Managing Director and CEO.[1]

See also

References
  1. "African Reinsurance Corporation 2017 Annual Report". Swiss Re. Retrieved 4 January 2017.
  2. "Registration Document" (PDF). AXA. Retrieved 4 July 2018.
  3. "Commercial Risk Africa" (PDF) (June 2016 ed.). CRA Reinsurance Africa's Future. Archived from the original (PDF) on 4 January 2017. Retrieved 4 January 2017.
  4. Karekezi, Corneille. "Overview of Hloabl Trends in Reinsurance: Africa Re Perspective" (PDF). Africa Re. Archived from the original (PDF) on 5 January 2017. Retrieved 4 January 2017.
  5. "Africa Re Group launches Africa Retakaful – Vanguard News". Vanguard News. 12 September 2010. Retrieved 14 May 2018.
  6. "Africa Re launches new insurance training programme – Vanguard News". Vanguard News. 14 May 2018. Retrieved 30 August 2018.


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