Reinsurance News

Africa Re offers $3.3mn to support pandemic resistance

29th July 2020 - Author: Matt Sheehan

Pan-African reinsurer Africa Re has announced that it will offer US $3.3 million in financial support to various governments and private institutions to help resist the impacts of the COVID-19 pandemic.

Managed by the Africa Re Foundation, the funds will aid awareness campaigns, preventive measures, acquisition of medical equipment and personal protective equipment.

Africa Re Foundation is an independent institution set up to handle the corporate responsibility projects of Africa Re.

Cities with Africa Re offices in them will collectively receive $2 million, split across Lagos, Johannesburg, Nairobi, Cairo, Abidjan, Casablanca, Mauritius and Addis Ababa.

Additionally, $820,000 will be allocated to the 41 associations of insurers in the member states of Africa Re.

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And a further $500,000 will be granted to the Africa Centre for Disease Control and Prevention, a public health agency of the African Union.

“Staying together with our communities in the fight against the COVID-19 pandemic is in line with Africa Re’s mission,” said Corneille Karekezi, Group Managing Director and CEO of Africa Re.

“This is a duty, as well as a matter of pride, to contribute to the risk mitigation of the health crisis and its socio-economic fallout”, said Dr Corneille Karekezi, the group managing director and CEO of the pan-African reinsurer.”

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