Pools

Season's greetings

The African Reinsurance Corporation (Africa Re) posted a premium income of US$629.15 million for the nine months to September 2021, an increase of 7.79% over US$583.68 million reported for the same period in 2020. The increase was driven by both organic growth and increase in market share in most of our markets. The recovery of the South African Rand against the US Dollar also contributed to the growth when reported in US Dollars. On the downside, there was significant reduction in premium income denominated in US Dollar from Libya and Sudan due to the devaluations of the Libyan Dinar and Sudanese Pound.