Africa Re

Africa Re, formally known as the African Reinsurance Corporation, is a pan-African reinsurance company established in 1976. Its primary objective is to foster the development of the insurance and reinsurance industry in Africa. The company provides reinsurance capacity and related services to insurance companies across the continent.

Africa Re was created under the auspices of the African Union (formerly the Organization of African Unity) and the African Development Bank. Its shareholders include African governments, African insurance and reinsurance companies, international financial institutions, and development banks.

The corporation's functions include underwriting reinsurance business, providing technical assistance and training to insurance companies, and promoting research and development in the insurance sector. Africa Re offers a range of reinsurance products covering various lines of business, including property, casualty, marine, aviation, and life.

Africa Re operates through a network of regional offices and subsidiaries located throughout Africa and beyond. Its headquarters are in Lagos, Nigeria. The company plays a crucial role in supporting economic development in Africa by enabling insurance companies to manage risk and provide coverage for a wide range of activities. By increasing the capacity of African insurers, Africa Re helps to retain premium income within the continent.