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African reinsurers' 2024 ranking according to gross premiums
October 30, 2025
Figures in thousands USD
| Company | Country | Date of creation | Gross premiums | Market share | Net result | Net result / premiums | ROE | |
|---|---|---|---|---|---|---|---|---|
| 1 | Africa Re | Nigeria | 1976 | 1 214 098 | 19.4% | 132 942 | 10.9% | 11.5% |
| 2 | Munich Reinsurance Company of Africa | South Africa | 1968 | 875 276 | 14.0% | 49 997 | 5.7% | 21.0% |
| 3 | Atlantic Re (Ex. SCR Maroc) | Morocco | 1960 | 383 718 | 6.1% | 43 229 | 11.3% | 14.3% |
| 4 | Compagnie Centrale de Réassurance - CCR | Algeria | 1973 | 369 014 | 5.9% | 56 282 | 15.3% | 15.4% |
| 5 | Swiss Re Africa (1) | South Africa | 1950 | 361 900 | 5.8% | 11 000 | 3.0% | 11.7% |
| 6 | Zep Re PTA | Kenya | 1990 | 348 358 | 5.6% | 21 249 | 6.1% | 5.9% |
| 7 | Hannover Re Africa (1) | South Africa | 1981 | 307 000 | 4.9% | 26 331 | 8.6% | 18.5% |
| 8 | WAICA Re | Sierra Leone | 2011 | 245 674 | 3.9% | 34 534 | 14.1% | 18.3% |
| 9 | General Reinsurance Africa (1) | South Africa | 1966 | 234 600 | 3.7% | 23 683 | 10.1% | 20.4% |
| 10 | CICA-Re | Togo | 1981 | 229 763 | 3.7% | 19 009 | 8.3% | 10% |
| 11 | African Reinsurance Corporation (South Africa) | South Africa | 2003 | 152 140 | 2.4% | 7 607 | 5.0% | 11.2% |
| 12 | Continental Re | Nigeria | 1985 | 151 424 | 2.4% | 5 826 | 3.8% | 6.5% |
| 13 | Kenya Re | Kenya | 1970 | 144 573 | 2.3% | 34 033 | 23.5% | 8.9% |
| 14 | Klapton Re | Zambia | 2021 | 111 662 | 1.8% | 9 111 | 8.2% | 38.9% |
| 15 | Tan Re | Tanzania | 2001 | 107 212 | 1.7% | 6 210 | 5.8% | 12.4% |
| 16 | SCOR Africa (1) | South Africa | 2009 | 91 000 | 1.5% | 0.4 | 0.0% | 0.0% |
| 17 | GIC Re Africa (2) | South Africa | 2014 | 79 994 | 1.3% | 11 200 | 14.0% | 11.3% |
| 18 | Tunis Re | Tunisia | 1981 | 75 763 | 1.2% | 6 721 | 8.9% | 8.3% |
| 19 | Ghana Re (1) | Ghana | 1995 | 60 800 | 1.0% | 20 800 | 34.2% | 32.0% |
| 20 | Sen Re | Senegal | 1988 | 54 542 | 0.9% | 2 889 | 5.3% | 11.8% |
| 21 | East Africa Re | Kenya | 1993 | 54 232 | 0.9% | 6 169 | 11.4% | 10.9% |
| 22 | Africa Retakaful (3) | Egypt | 2010 | 53 090 | 0.8% | 2 029 | 3.8% | 6.8% |
| 23 | Waica Re Kenya | Kenya | 2018 | 45 357 | 0.7% | 2 540 | 5.6% | 12.4% |
| 24 | NamibRe (2) | Namibia | 2001 | 43 896 | 0.7% | 4 040 | 9.2% | 26.2% |
| 25 | Continental Re Kenya | Kenya | 2008 | 41 540 | 0.7% | -6 710 | -16.2% | -31.8% |
| 26 | First Mutual Reinsurance Holdings | Botswana | 2003 | 39 818 | 0.6% | 1 789 | 4.5% | 20.5% |
| 27 | SCG-Ré | Gabon | 2012 | 39 436 | 0.6% | 2 675 | 6.8% | 8.2% |
| 28 | NCA Re | Côte d'Ivoire | 2012 | 38 334 | 0.6% | 2 143 | 5.6% | 8.6% |
| 29 | Ethiopian Re (3) | Ethiopia | 2016 | 38 143 | 0.6% | 6 747 | 17.7% | 15.2% |
| 30 | Aveni-Re | Côte d'Ivoire | 2004 | 32 528 | 0.5% | 3 829 | 11.8% | 14.0% |
| 31 | WAICA Re Zimbabwe | Zimbabwe | 2005 | 32 131 | 0.5% | 2 913 | 9.1% | 21.2% |
| 32 | FBS Re (4) | Nigeria | 2020 | 31 828 | 0.5% | 6 077 | 19.1% | 24.9% |
| 33 | Uganda Re | Uganda | 2013 | 28 274 | 0.5% | 884 | 3.1% | 5.4% |
| 34 | Ghana Re Kenya | Kenya | 2011 | 27 368 | 0.4% | 758 | 2.8% | 5.2% |
| 35 | Globus Re | Burkina Faso | 2010 | 21 079 | 0.3% | 1 160 | 5.5% | 13.6% |
| 36 | Zep Re Zimbabwe (5) | Zimbabwe | 2012 | 17 460 | 0.3% | 622 | 3.6% | 8.3% |
| 37 | ZB Re | Zimbabwe | 1997 | 12 642 | 0.2% | 733 | 5.8% | 8.0% |
| 38 | FBC Re (6) | Zimbabwe | 1994 | 12 428 | 0.2% | 4 378 | 35.2% | 88.4% |
| 39 | Grand Re | Zimbabwe | 2005 | 10 441 | 0.2% | 256 | 2.5% | 7.0% |
| 40 | Tropical Re | Zimbabwe | 2007 | 9 672 | 0.2% | 1 805 | 18.7% | 33.2% |
| 41 | Emeritus Re | Zimbabwe | 1984 | 9 381 | 0.1% | 38 | 0.4% | 0.2% |
| 42 | FM Reinsurance | Zimbabwe | 2003 | 9 155 | 0.1% | -492 | -5.4% | -11.6% |
| 43 | GN Reinsurance | Ghana | 2014 | 7 506 | 0.1% | 319 | 4.2% | 2.2% |
| 44 | MUCA Re | Zimbabwe | 2021 | 5 692 | 0.1% | 672 | 11.8% | 18.3% |
| 45 | Zambia Re | Zambia | 2006 | 5 045 | 0.1% | 1 023 | 20.3% | 21.0% |
| 46 | Emeritus Re Life | Zimbabwe | 1984 | 2 440 | 0.0% | 126 | 5.2% | 5.6% |
| 47 | TransAxis Re (7) | Zimbabwe | 2021 | 1 252 | 0.0% | 51 | 4.1% | 3.5% |
| 48 | FM Re Life | Zimbabwe | 2006 | 779 | 0.0% | 397 | 51.0% | 22.4% |
| Total | 6 269 458 | 100% | 569 624 | 9.1% | 12.9% | |||
Evolution in USD
(1) Atlas estimates for certain indicators
(2) Fiscal year ending March
(3) Fiscal year ending June
(4) FBS Re began operations in 2021
(5) Consolidated data for Zep Re and Zep Re Life
(6) Consolidated data for FBC Re and FBC Re Life
(7) Newly created company