Following a recommendation by the ADB, the African Reinsurance Corporation (AFRICA RE) was established on 24th February, 1976 by the signing in Yaoundé, Cameroon, of an international Agreement by the Plenipotentiaries of 36 member States of the Organization of African Unity (OAU) and the said Bank with the aim of reducing the outflow of foreign exchange from the continent by retaining a substantial proportion of the reinsurance premiums generated therein... more »
Head Office: Lagos, Nigeria
Regional Offices: Abidjan, Cairo, Casablanca, Lagos, Nairobi, Port Louis
Contact Office: Addis Ababa (Ethiopia)
Subsidiaries:
Membership:
41 member countries of the African Union
1 Regional DFI: African Development Banque (AfDB)
97 African Insurance/Reinsurance companies
4 Non-Regional DFIs: IFC, DEG, FMO, PROPARCO
Authorized Capital: US$ 500 million
Paid-up Capital: US$ 199 million (end 2010);US$ 300 million (Est. end 2012)
Shareholders' Equity: US$ 344 million (end 2010);US$ 600 million (Est. end 2012)
Net Profit : US$ 65 million (2010)
Gross Written Premium: US$ 628 million
Publications: The African Reinsurer, The Risk Watch
Official Languages: French & English
