African Reinsurance Corporation reported strong financial results for the first half of 2025 as its Gross Written Premium rose 15.31 per cent to $644.30m from $558.72m at the end of the corresponding period in the previous year.
According to the unaudited results, the net underwriting result stood at $54.35m. The net combined ratio was 89.18 per cent, a feat which the group said reflected the disciplined underwriting and risk management. Investment income appreciated 21.73 per cent to $51.15m, and the net profit rose to $102.08m, indicating a 19.96 per cent growth year-on-year.
As of June 30, 2025, Africa Re’s total assets stood at $2.60bn, up 10.25 per cent from December 2024. Shareholders’ equity increased 8.80 per cent to $1.25bn, supported by higher retained earnings.
In a statement accompanying the results, the Group Managing Director/Chief Executive Officer of Africa Re, Dr. Corneille Karekezi, said the performance at the end of June 2025, reflected “our strong performance for the first half of 2025. I am proud to report that Africa Re continues to demonstrate robust growth and resilience. Our expanding business portfolio, disciplined underwriting, and prudent investment strategies have enabled us to achieve significant premium growth while navigating an increasingly complex business environment. The improvement in our financial position, with rising assets and shareholders’ equity, further underscores the effectiveness of our strategy and risk management approach.”
Karekezi further gave insights into a positive outlook: “As we look ahead, we are confident in Africa Re’s ability to seize opportunities in our core markets, maintaining the momentum that has defined our results for this half year. We remain optimistic that we will achieve the set targets for the 2025 financial year under the current market conditions. The corporation remains committed to delivering value and upholding the strength and stability our partners expect from us.”
The firm said that the performance was largely driven by a substantial rise in proportional treaty premiums within key production centres. Additionally, organic growth was spurred by premium increases following significant market corrections after major catastrophe events, further accelerating momentum in core markets.
Africa Re is a regional reinsurance institution dedicated to the African continent and open to select markets in Asia, Brazil and the Middle East.
