Africa Re
| Industry | Financial services |
|---|---|
| Founded | February 24, 1976 |
| Headquarters | Lagos, Nigeria |
Key people |
Corneille Karekezi (CEO) Hassan Boubrik (Chairman) |
| Products | Reinsurance, insurance, asset management |
| Revenue | US $634.89 million (2015)[1] |
| Profit | US $103.65 million (2015)[1] |
| Total assets | US $1,374 million (2015)[1] |
| Total equity | US $780 million (2015)[1] |
Number of employees | 247 (2015)[1] |
| Website | Homepage |
African Reinsurance Corporation, generally known as Africa Re, is a reinsurance company based in Lagos, Nigeria. Africa Re was founded on 24 February 1976 in Yaounde, Cameroon[2] making it Africa's first Continental Reinsurer.[3] The company operates in 41 countries of the African Union through approximately 107 insurance/reinsurance companies.
Ownership
As of 31 December 2015, the shares of the stock of Africa Re were held by:[1]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | 41 AU Member States | 33.59 |
| 2 | 111 African insurance and reinsurance companies | 32.85 |
| 3 | 4 Non-African Investors1 | 25.39 |
| 4 | African Development Bank | 8.17 |
| Total | 100.00 |
Note:
1 - The non-African investors are Fairfax Financial, AXA, PROPARCO and IRB Brasil Re.
Governance
Africa Re is governed by a ten-person Board of Directors with Hassan Boubrik serving as the Chairman of the group and Corneille Karekezi as the Group Managing Director and CEO.[1]
See also
References
- 1 2 3 4 5 6 7 "African Reinsurance Corporation 2015 Annual Report" (PDF). Swiss Re. Retrieved 4 January 2017.
- ↑ "Commercial Risk Africa" (PDF) (June 2016 ed.). CRA Reinsurance Africa's Future. Retrieved 2017-01-04.
- ↑ Karekezi, Corneille. "Overview of Hloabl Trends in Reinsurance: Africa Re Perspective" (PDF). Africa Re. Retrieved 2017-01-04.
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