Africa Re

African Reinsurance Corporation
African Reinsurance Corporation
Industry Financial services
Founded February 24, 1976 (1976-02-24)
Headquarters Lagos, Nigeria
Key people

Corneille Karekezi (CEO)

Hassan Boubrik (Chairman)
Products Reinsurance, insurance, asset management
Revenue US $688 million (2017)[1]
US $177 million (2017)[2]
Total assets US $2,912 million (2017)[2]
Total equity US $902 million (2017)[2]
Number of employees
 243 (2017)[2]
Website Homepage

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]

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. 1 2 3 "African Reinsurance Corporation 2017 Annual Report". Swiss Re. Retrieved 4 January 2017.
  2. 1 2 3 4 "Registration Document" (PDF). AXA. Retrieved July 4, 2018.
  3. ↑ "Commercial Risk Africa" (PDF) (June 2016 ed.). CRA Reinsurance Africa's Future. Retrieved 2017-01-04.
  4. ↑ Karekezi, Corneille. "Overview of Hloabl Trends in Reinsurance: Africa Re Perspective" (PDF). Africa Re. Retrieved 2017-01-04.
  5. ↑ "Africa Re Group launches Africa Retakaful - Vanguard News". Vanguard News. 2010-09-12. Retrieved 2018-05-14.
  6. ↑ "Africa Re launches new insurance training programme - Vanguard News". Vanguard News. 2018-05-14. Retrieved 2018-08-30.


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