The African Reinsurance Corporation has reported a strong financial performance for the first half of 2025, with Gross Written Premium rising by 15.31 per cent to $644.30 million, up from $558.72 million in the same period last year.
According to its unaudited results, the company posted a net underwriting result of $54.35 million, while the net combined ratio stood at 89.18 per cent. The group said this reflects its disciplined underwriting process and effective risk management strategy.
Investment income also grew by 21.73 per cent, hitting $51.15 million, while net profit rose to $102.08 million, showing a 19.96 per cent increase compared to the previous year.
As of June 30, 2025, Africa Re’s total assets stood at $2.60 billion, representing a 10.25 per cent increase from December 2024. Shareholders’ equity also grew by 8.80 per cent to $1.25 billion, driven by higher retained earnings.
In a statement on the results, the Group Managing Director and Chief Executive Officer of Africa Re, Dr. Corneille Karekezi, said the performance demonstrates the resilience and growth capacity of the firm despite a challenging business environment.
He explained, “Our expanding business portfolio, disciplined underwriting, and prudent investment strategies enabled us to achieve significant premium growth while navigating an increasingly complex market. The improvement in our financial position, with rising assets and shareholders’ equity, underscores the effectiveness of our strategy and risk management approach.”
Karekezi added that the outlook for the rest of the year remains positive, noting that the company is confident of meeting its 2025 targets. “We remain optimistic that we will achieve the set goals for this year. Africa Re is committed to delivering value and maintaining the stability our partners expect,” he said.
The group explained that its performance was largely driven by strong growth in proportional treaty premiums from key markets, as well as premium increases that followed significant market corrections after major catastrophe events. These developments, it said, helped to accelerate momentum in its core markets.
Africa Re, established to support the African insurance and reinsurance industry, also operates in select markets in Asia, Brazil, and the Middle East.
