• Africa Re reports net profit of $199 million in 2025, up 50.62% year-on-year.
• Investment income reaches record $114 million while FX losses drop by 87%.
• Gross written premiums increase 10.18% to $1.34 billion, supporting technical performance.

Africa Re, Africa’s largest reinsurer by net premiums, reported a net profit of $199 million in 2025. The company increased net income by 50.62% compared with 2024. The company attributed this performance to stronger technical results, record investment income, lower foreign exchange losses, and improved cost discipline. The company said favorable currency movements across most of its operating markets significantly reduced FX losses.

FX losses declined by 87.09% to $5.4 million during the year. At the same time, the company increased investment income by 27.28% to a record $114 million. The company credited favorable market conditions, effective investment strategy, and optimized asset allocation for this growth.

Africa Re strengthened its technical performance through higher premium volumes and disciplined underwriting. The company increased gross written premiums by 10.18% to $1.34 billion in 2025. The company also raised gross reinsurance income by 6.22% to $1.27 billion. The company reported a technical profit of $96 million, up 9.58% from 2024. The company achieved this growth through higher premium volumes and a slightly lower loss ratio.

The company improved underwriting outcomes through stricter renewal terms, increased facultative placements, and rising demand across key business lines. These lines include property, engineering risks, motor, life, and specialty risks.

The company benefited from improved pricing conditions in property and motor segments following recent global losses. The company also benefited from favorable exchange rate movements, which supported premium growth. At the same time, the company increased operating expenses in line with business growth. The company maintained operational efficiency despite higher activity levels.

Africa Re also strengthened risk diversification through a balanced business mix. The company improved resilience against localized volatility through diversified revenue sources.

The company increased total assets by 14.05% to $2.69 billion as of December 31, 2025. The company also raised shareholders’ equity by 18.99% to $1.37 billion.

“Our 2025 results demonstrate the strength of Africa Re’s diversified portfolio and disciplined execution of our strategy, which also led to S&P’s recent upgrade of our financial strength and credit ratings to A,” said Corneille Karekezi, Chief Executive Officer of the company.

Pan-African footprint supported by diversified shareholder base

Africa Re was founded in 1976 by 36 member states of the Organisation of African Unity. The company now has a diversified shareholder base that includes 42 African states with a 34.63% stake, the African Development Bank with 8.38%, 114 African insurance and reinsurance companies with 34.94%, and three non-African shareholders with 23.05%. These include global insurance groups such as Fairfax, AXA, and Allianz.

The company operates from its headquarters in Lagos, Nigeria. The company manages six regional offices located in Casablanca, Abidjan, Nairobi, Lagos, Cairo, and Ebène. The company also maintains contact offices in Ethiopia, Uganda, Sudan, and the Democratic Republic of Congo. The company operates subsidiaries including Africa Re South Africa Limited and Africa Retakaful in Egypt.

This article was initially published in French by Walid Kéfi

Adapted in English by Ange J.A de Berry Quenum