Reinsurance News
5th October 2020
Africa Reinsurance Group has selected the Dubai International Financial Centre (DIFC) for its first office outside Africa. DIFC is a financial centre in the Middle East, Africa and South Asia (MEASA) region and says Africa Re will operate as Africa Re Underwriting Agency Limited. Africa Re's focus is on the underwriting of proportional and ... Read the full article
29th July 2020
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 ... Read the full article
28th March 2019
Africa Re has signed an agreement with IFC, a member of the World Bank Group, to assist insurers in Nigeria with the development of innovative agricultural solutions for small holder farmers. Lunched by the Nigerian Commissioner for Insurance, Muhammed Kari on March 26th 2019, the agreement sees Africa Re work with ... Read the full article
21st March 2019
Alesco Risk Management Services, the specialist insurance and risk management broker, has been appointed by Africa Reinsurance Corporation (Africa Re) to arrange a reinsurance facility for all international upstream energy insurance programs written from Equatorial Guinea. The commission of the $3.5 billion facility, which will largely be placed through Lloyd’s, adheres ... Read the full article
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
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
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
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
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
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
