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Africa Re provides capacity and assistance through first class reinsurance protection to its clients.
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Africa Re is responsible for the management of two reinsurance pools namely:
IFRS 17, an International Financial Reporting Standard that was issued to replace IFRS 4, aims to standardise insurance accounting globally, improve comparability, increase transparency and provide better information to users of financial statements to evaluate insurance entities.
As we celebrate our Sapphire Anniversary, we express sincere gratitude to all stakeholders. Their continuous trust is the driving force that has led us to accomplish our noble mission to foster the development of the #insurance and #reinsurance industry in #Africa for the past 45 years.
We will always do our best to continue to deserve this trust.
The African Reinsurance Corporation (Africa Re) posted a premium income of US$583.68 million at the end of the third quarter of 2020, a decline of 5.41%. The decline was largely driven by the weakening of some of the major underlying currencies (Nigeria Naira and South Africa Rand) as well as declines occasioned by deliberate portfolio actions to improve underwriting performance.
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