Africa Re is a leading reinsurance company and the premier reinsurer of the African continent, boasting the highest premium income volumes and the strongest financial strength ratings. The mission of Africa Re is to “foster the development of the insurance and reinsurance industry in Africa, to promote the growth of national, regional, and sub-regional insurance risk underwriting and retention capacities, and to support African economic development”.
As the leading reinsurance company in Africa and the Middle East, Africa Re offers a unique value proposition to its cedants across Africa and in selected markets of the Middle East, Asia, and Brazil. This is underpinned by a diverse pool of talent and expertise, unique market knowledge, proximity to clients, privileged access to African markets, and excellent customer service.
Established in 1976 and headquartered in Abuja (Nigeria) following the inauguration of its new Corporate headquarters in 2026 after operating from Lagos (Nigeria) for almost 50 years, Africa Re is a pan-African financial institution with a broad-based shareholding split between African shareholders (75%) and non-African investors (25%). African shareholding comprises 42 African member States, the African Development Bank (AfDB), and 112 African insurance and reinsurance companies from the 42 member States. The other investors are 3 leading global insurance and reinsurance groups whose parent companies are based in France, South Africa, Germany, and Canada.
Africa Re maintains a strong geographical presence across Africa through six (6) Regional Offices located in Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebène (Mauritius). Its operations are further supported by two (2) Contact Offices in Addis Ababa (Ethiopia) and Khartoum (Sudan), and two (2) Underwriting Representative Offices in Kampala (Uganda) and Kinshasa (Democratic Republic of Congo).
The Corporation also operates through four (4) subsidiaries: Africa Re South Africa Ltd in Johannesburg (South Africa), Africa Re Takaful Company in Cairo (Egypt), Africa Re Underwriting Management Agency Limited in Dubai (United Arab Emirates), and Africa Re GIFT City in Gujarat (India), reinforcing its regional reach and international market presence.
Africa Re maintains strong international financial strength ratings of A (Excellent / Stable Outlook) from AM Best since 2016 and A (Strong / Stable Outlook) from S&P Global Ratings since 2025. Its standing among leading global reinsurers is further reinforced by the 2026 global rankings, placing the Corporation 37th among the world’s 40 largest reinsurers based on Gross Written Premium by S&P Global Ratings. In addition, Africa Re has currently been included in the twenty (20) selected benchmark companies tracked by S&P Global. The Corporation was ranked 13th out of 16 among IFRS 17 (Reinsurance Revenue) Reporting Reinsurers translating 45th among the Top 50 Global Reinsurers by AM Best. However, using our IFRS 4 (Gross Written Premium), the Corporation would have been 42nd among the Top 50 Global Reinsurance Groups.. These distinctions underscore Africa Re’s robust financial position, sustained financial performance and growing prominence in the global reinsurance market.
In 2025, Africa Re wrote over US$ 1.34 billion in gross written premium, US$ 1.27 billion in reinsurance revenue and recorded a net profit of US$ 218.59 million. The shareholders’ equity reached US$ 1.40 billion.
Beyond its commitment to insurance capacity building and technical assistance, Africa Re supports Africa’s economic development through strategic equity investments in leading regional institutions, including the African Export-Import Bank (Afreximbank), Shelter Afrique Development Bank (ShafDB), Africa50, Africa Finance Corporation (AFC) and African Trade and Investment Development Insurance (ATIDI), as well as investments in African and Africa-backed financial instruments to the tune of over 60% of its investment portfolio.
The Corporation also allocates up to 2.0% of its annual net profit since 2018 to Corporate Social Responsibility (CSR) initiatives across its member countries, managed through the Africa Re Foundation, registered in Mauritius, with a particular focus on risk management for sustainable development. The allocation has been increased to 2.5% from the 2026 financial year for more impact.