Reinsurance News
Africa Re
S&P lifts Africa Re ratings to ‘A’ due to consistent strong performance
1st December 2025
S&P Global Ratings has raised the long-term issuer credit and insurer financial strength ratings for African Reinsurance Corp. (Africa Re) and its South African subsidiary, African Reinsurance Corp. (South Africa) Ltd., to 'A' from 'A-', driven by its long track record of strong operating performance while managing foreign currency risks ... Read the full article
Africa Re reports net profit of $142.65m in Q3’25 despite increased claims activity
18th November 2025
African Reinsurance Corporation has disclosed a net profit after tax for Q3 2025 of $142.65 million, marking an increase of 8.54% year-on-year. According to the firm, this “historical record” was driven by a significant reduction in foreign exchange losses, which dropped by 65.54% in the quarter to $6.83 million, disciplined cost ... Read the full article
Africa Re reports resilient underwriting performance with CoR of 89.18% in H1’25
26th August 2025
The African Reinsurance Corporation (Africa Re) reported a solid net underwriting result of $54.35 million for the first half of 2025, with a combined ratio of 89.18%, up from 87.54% in the same period a year prior. The company noted that its solid underwriting performance underscores its operational resilience and disciplined ... Read the full article
Africa Re launches Index-Based Livestock Insurance product in Nigeria
8th August 2025
Africa Re, in collaboration with the Livestock Productivity and Resilience Support Project (L-PRES), a consortium of insurance providers, and development partners, has launched an Index-Based Livestock Insurance (IBLI) product in Nigeria. The product was officially introduced at an event on July 24th, 2025, at the Transcorp Hilton in Abuja. The launch ... Read the full article
Bichetero named Substantive DMD/COO for Africa Re
9th July 2025
Africa Re has announced Ephraim Kiiza Bichetero has assumed duty as Substantive Deputy Managing Director/Chief Operating Officer (DMD/COO) from July 1, 2025. This has taken place after a one-year transition and succession programme with the retiring and longest-serving DMD/COO, Kenneth Edirin Napoleon Aghoghovbia. In his new role, Bichetero will assist the Group ... Read the full article
Africa Re sees net profit climb 32.5% to $22.5m in Q1’25
4th June 2025
The African Reinsurance Corporation has reported an overall net profit for Q1 2025 of $22.5 million, marking an increase of 32.5% compared to a profit of $16.9 million achieved in the same period of 2024. According to the firm, the net income increase was driven by an improvement in underwriting profit, ... Read the full article
Africa Re posts strong underwriting result with CoR of 90.89% in 2024
15th April 2025
The African Reinsurance Corporation (Africa Re) reported an improved net combined ratio of 90.89% for the 2024 financial year, down from 93.51% in 2023, alongside a net underwriting profit of $87.34 million, up 59.37% from $54.81 million the year prior. The company attributed its strong underwriting performance to disciplined underwriting, improved ... Read the full article
S&P revises Africa Re’s outlook to Positive
3rd December 2024
S&P Global Ratings has revised the African Reinsurance Corporation’s (Africa Re) financial rating outlook to Positive from Stable while affirming its A- global scale financial strength ratings. The rating agency highlighted Africa Re’s strong position in the African reinsurance market, noting its ability to sustain robust operating performance over the next ... Read the full article
Africa Re posts solid underwriting result with CoR of 88.74% in Q3’24
5th November 2024
The African Reinsurance Corporation (Africa Re) reported a strong net underwriting result of $79.5 million at the end of the third quarter of 2024, marking an impressive year-over-year increase of 100.82% and resulting in an improved net combined ratio of 88.74%, down from 93.66% during the same period last year. The ... Read the full article
Africa Re’s GWP income climbs to $558.74m, net CoR hits 87.54%
2nd September 2024
The African Reinsurance Corporation (Africa Re) posted a gross written premium (GWP) income of US $558.74 million at the end of the second quarter of 2024, representing a 5.56% increase from the US $529.33 million figure that was reported in the same period last year under IFRS 4. According to the ... Read the full article
Africa Re reports best net income result ever in 2023
11th March 2024
Based on preliminary and unaudited figures under IFRS 4, Africa Re has reported a net income of $129.145 million in 2023, marking a massive improvement of 444.16% from the $23.733 million net income posted in 2022. Africa Re additionally recorded gross written premiums of $1.106 billion for 2023, translating into an ... Read the full article
AAMFI: Uniting Africa’s financial institutions for sustainable development
28th February 2024
Several multilateral financial organisations have collaborated to establish the Alliance of African Multilateral Financial Institutions (AAMFI), under the patronage of Nana Addo Dankwa Akufo-Addo, the President of Ghana. This significant initiative was launched during the 37th Ordinary Session of the African Union, marking a pivotal moment in Africa's financial landscape. AAMFI ... Read the full article
Africa Re reports improved Net Profit of $75.4mn in 9M 2023
24th November 2023
The African Reinsurance Corporation has announced its financial results for the first nine months of 2023 reporting strong growth in Net Profit, to $75.4 million, a “remarkable improvement” compared to the loss recorded at the end of the same period of 2022. Africa Re’s Gross Written Premium Income also saw improvement, ... Read the full article
Africa Specialty Risks partners with Africa Re on political risk & trade credit
22nd November 2022
Africa Specialty Risks and the African Reinsurance Corporation have announced that they have entered into a partnership agreement on the provision of Political Risk and Trade Credit Insurance through an Underwriting Authority Agreement which brings in a $10 million multi-year capacity for risks situated in Africa and the Middle East. Read the full article
Gallagher Re and Africa Re team up to address protection gap in Africa
5th July 2022
Gallagher Re and Africa Re are to team up in an effort the firms say will ‘strengthen the financial resilience of African countries against a broad range of climate, crisis and disaster risks’. Named ‘Accelerating action through scalable risk transfer schemes’, the initiative is offering a robust, replicable, and modular framework ... Read the full article
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