Africa Re gross premium rises 15% half year on portfolio expansion, disciplined underwriting

African Reinsurance Corporation (Africa Re) has reported strong financial results for the first half of 2025, seeing gross premium up 15.31 percent on portfolio expansion, disciplined underwriting and strong investment returns.

The Corporation in statement said the performance is underpinned by continued growth in premium income, resilient underwriting performance, and a solid investment return despite ongoing geopolitical and macroeconomic headwinds.

The half-year review shows a Gross Written Premium of $ 644.30 million, as against $558.72 million same period in 2024, reflecting an impressive 15.31 percent year-on-year growth.

Corneille Karekezi, GMD/CEO of Africa Re commenting on the performance of the Company in the review period, said, “Reflecting on 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”.

Additionally, organic growth was spurred by premium increases following significant market corrections after major catastrophe events, further accelerating momentum in core markets. These factors collectively underscore Africa Re’s operational strength and its proactive engagement with brokers and market players across its core territories.

Despite these challenges, Africa Re remains committed to prompt claims settlement, prudent claims management, and supporting clients during difficult times. The net acquisition cost also rose by 12.04 percent year-on-year, reflecting the Corporation’s continued efforts to reward its strategic partners appropriately.

At half-year, the net underwriting result reached $ 54.35 million, with the net underwriting margin closing at 10.82 percent, while investment portfolio also delivered a stronger result of $ 51.15 million in H1 2025 compared to $ 42.02 million recorded in H1 2024.

This performance is attributable to an active management of various assets, especially the fixed income portfolio, in an environment of high volatility.

As of June 30, 2025, Africa Re’s total assets stood at $2.60 billion, up 10.25 percent from December 2024. Shareholders’ equity increased by 8.80 percent to $1.25 billion, supported by higher retained earnings.

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”.