African Reinsurance Corporation
African Reinsurance Corporation | |
|---|---|
| Corporate identity | |
| Regulated | Yes |
| License type | Reinsurance |
| Incorporation | 1976 |
| Regulator | National Insurance Commission (NAICOM) |
| Group status | Associate (minority stake by AXA Africa Holding) |
| Business & markets | |
| Operating status | Active |
| Lines of business | Reinsurance |
| Geographic markets | Pan-African |
| Key financials (2024) | |
| Currency | USD |
| Net income | USD 132,942 ('000) |
| Gross written premium | USD 1,214,098 ('000) |
| Total assets | USD 1,884,232 ('000) |
| Equity | USD 1,158,884 ('000) |
🛡️ African Reinsurance Corporation (commonly known as Africa Re) is a pan-African reinsurance institution established through a multilateral agreement signed on 24 February 1976.[1] The corporation provides reinsurance capacity across the African continent and is regulated by NAICOM in its Nigerian operations.[2] For 2024, Africa Re reported written premium of USD 1,214,098 thousand, retained premium of USD 985,338 thousand, net profit of USD 132,942 thousand, shareholders' funds of USD 1,158,884 thousand, and total assets of USD 1,884,232 thousand.[3] AXA Africa Holding holds a 7% stake, supporting treatment as an associate or minority investment rather than an AXA-controlled subsidiary.[4]
References
- ↑ "Agreement Establishing the African Reinsurance Corporation" (PDF). United Nations Treaty Series. 1976.
- ↑ "Reinsurance". NAICOM. Retrieved 13 March 2026.
- ↑ "Financial Highlights". African Reinsurance Corporation. Retrieved 13 March 2026.