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Africa Re

Allianz Group to purchase 8% stake in Africa Re

30th May 2018

Allianz Group has entered into an agreement to acquire an 8% stake in African Reinsurance Corporation (Africa Re) for a total cash consideration of USD 81 million. The transaction will make Allianz one of the largest shareholders in Africa Re, and will enable both companies to jointly promote insurance penetration in ... Read the full article

Agricultural insurance needed in underdeveloped Nigerian market: Reports

26th October 2017

Africa Re, the World Bank, and the federal government are collaborating to improve insurance penetration levels among farmers through affordable insurance packages, Ken Aghoghovbia, Chief Operating Officer/Deputy Managing Director, of Africa Re said in an interview with Nigeria Today. Increased agricultural insurance penetration is expected to play a crucial role in ... Read the full article

Africa Re builds partnerships to boost Nigeria profit

4th April 2017

Africa Re has attributed much of its success throughout Nigeria and the African continent to developing diverse partnerships that support re/insurance market growth. The reinsurer said its unique ventures - such as the mitigation of forex risk through accepting payment of reinsurance premiums in Nigerian bank accounts and in the national ... Read the full article

Kenya Re reveals plans to move into North Africa

20th March 2017

Kenya Re has revealed plans to open a regional hub in Sudan or Egypt as North Africa becomes its next target market after having successfully consolidated Southern and Western African lines of business, the Star reported. Kenya Re managing director Jadiah Mwarania, told the Star the 60% state-owned company was aiming ... Read the full article

NAICOM urged to level playing field for Nigerian reinsurers

14th March 2017

Pan-African reinsurance company Africa Re has an unfair, dominant share of the Nigerian reinsurance market, which is causing local reinsurance companies to perform below expectations, according to reports from the region. This is according to online Nigerian insurance and pension news reporting website Inspenonline, which, citing an unnamed industry expert, says that Africa ... Read the full article

World Bank & Africa Re collaborate to expand microinsurance

15th February 2017

The World Bank Group’s Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have entered into an innovative risk-sharing facility agreement, that's expected to create more affordable local insurance solutions and help protect smallholder farmers from the impact of climate change. The agreement is meant to provide a boost ... Read the full article

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