The African Reinsurance Corporation (Africa Re), a foremost leader in the reinsurance sector, is proud to announce the convening of its 171st Board Meeting in Mauritius on Monday, 6th of May 2024. This significant event underscores Africa Re's dedication to the advancement of the insurance and reinsurance industry across the African continent.
Mauritius, a founding member state of Africa Re since 1976, has been chosen to host this pivotal session of Group Board of Directors, reaffirming its integral role within the corporation. With the establishment of the Mauritius Regional Office in 1996, the island has become a cornerstone of Africa Re's operations, contributing significantly to the economic landscape of the region.
In recent times, Africa Re has played a vital role in supporting Mauritius, particularly in the aftermath of natural catastrophes that have affected the island. As a leading reinsurer in the Mauritian market, Africa Re has provided substantial reinsurance support to local insurance companies, aiding in the indemnification process following major losses.
Moreover, hosting the Board of Directors meeting in Mauritius holds strategic importance for the country's economy, particularly in bolstering the tourism industry. The presence of esteemed delegates, including His Excellency Dr. Mohammed Ahmed Maait, Chairman of the Board of Directors of Africa Re and Minister of Finance of Egypt, as well as Dr Corneille Karekezi, Group Managing Director - Chief Executive Officer of Africa Re underscores the significance of this gathering.
Dr. Maait will be hosting a cocktail reception on Monday, 6th of May 2024, at 6 pm at Westin Turtle Bay, Balaclava. The event will be graced by the presence of Honourable Soomilduth Bholah, Minister of Financial Services and Good Governance, further exemplifying the strong partnership between Africa Re and the government of Mauritius. The cocktail reception presents a valuable opportunity for industry leaders and stakeholders to connect, fostering stronger collaboration and driving the future success of the African reinsurance industry.
Africa Re looks forward to a productive Board Meeting in Mauritius and reaffirms its unwavering commitment to advancing the insurance and reinsurance landscape in Africa.
Africa Re, a global leader of the reinsurance industry
Established by member States of the African Union, Africa Re stands as a global leader in the reinsurance industry, with a steadfast commitment to fostering economic development across the continent. With a market share of approximately 10%, Africa Re continues to lead the African reinsurance market, boasting robust financial strength ratings and a mission to promote insurance and reinsurance growth in Africa.
Ranked among the Top 40 Global Reinsurers by Standards and Poor’s and among the Top 50 Global Reinsurance Groups by AMBest, Africa Re's consistent presence on these lists for over a decade speaks volumes about its stability and reliability. The corporation remains the only African reinsurer to achieve A– (Strong / Stable Outlook) rating by Standard & Poor’s and A (Excellent / Stable Outlook) by A.M. Best.