African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest reinsurer in Africa in terms of net reinsurance written premiums.
Africa Re was set up by 36 African states in 1976, following a recommendation by the African Development Bank (AfDB), with the mission of developing the insurance and reinsurance industry in Africa through increased underwriting and retention capacities, and support to African economic development.
Ranked 38th in the 2018 Standard & Poor’s Global Reinsurance Groups and 41st of the Top 50 Global Reinsurance Groups by AM Best in 2018, Africa Re has a broad-based shareholding: 41 African member States (33.59%); the African Development Bank (8.42%); 111 African insurance and reinsurance companies (33.84%); and 3 non regional shareholders (23.15%), including leading global insurers and reinsurers from France (AXA), Canada (FAIRFAX) and Germany (ALLIANZ SE).
With headquarters in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius), one (1) Local Office in Addis Ababa (Ethiopia) and one (1) Underwriting Representative in Kampala (Uganda). It also has two (2) Subsidiary Companies (Africa Re South Africa Limited and Africa Retakaful) in Johannesburg (South Africa) and Cairo (Egypt) respectively.
In 2017, Africa Re wrote US$746.8 million of premium income and realized a net profit of US$87.9 million. Its shareholders’ funds reached US$902 million while its total assets were US$1,628.5 million.
The Financial Strength and Credit Rating of Africa Re is A (Stable) by A.M. Best Company (since 2016) and A – (Stable) Standard & Poor’s (since 2009).
Besides its dedication to professional insurance capacity building and technical assistance to African insurers, Africa Re participates in the equity of major regional development institutions: Africa Export-Import Bank (AFREXIMBANK), Shelter Africa, African Trade Insurance Agency (ATI), Preferential Trade Area Bank (PTA Bank) and invests significantly in African financial markets.
Up to 2% of Africa Re’s annual net profit is used to finance Corporate Social Responsibility initiatives in member countries with a focus on risk management for development.
Plot 1679 Karimu Kotun Street
Victoria Island P.M.B. 12765 Lagos
Expertise Director of Risk Management and Compliance
Director of Risk Management and Compliance
After completing her master in economics in 1983, Ms SANON Marie Agnes worked with the Insurance Regulatory Board from July 1983 to June 1988. During same period she completed her post-graduate degree in Insurance, from November 1984 to June 1986 in the Institut International des Assurances in Yaoundé, Cameroon.
In June 2008, she joined Foncias, the Allianz Group subsidiary in Burkina Faso, as Head of the Reinsurance and Marine department, in charge as well of Corporate risks.
In January 2001, she was appointed in CICA- RE, the Francophone Regional Reinsurance company, in Lomé (Togo) as Treaty Underwriter in charge of the French speaking West African countries.
Six years later, in February 2007, she joined Africa Re in its Nairobi office, as senior Underwriter in charge of both treaties and facultative, basically for the French speaking countries of the Eastern Africa but also some Kenyan insurance companies.
She has been raised at the position of Regional Director in the Mauritius regional Office in July 2010. The office is in charge of the African Indian Ocean Islands, Asia (except Middle East), Brazil and the African Portuguese countries
Amongst other activities, she has been lecturer in Burkina Faso in economics and Reinsurance in Togo.
She is a founder-member of the Soroptimist club in Burkina Faso.