African Reinsurance Corporation

InsuranceLagos, Nigeria201-500 Employees

The African Reinsurance Corporation operates as a reinsurer and a broad-based risk pooling and sharing platform formed by 42 African states, more than 112 African insurance and reinsurance companies, and three global groups, with a mandate to develop African insurance markets and create value. Headquartered in Lagos, Nigeria, it maintains a regional and international footprint, including operations in the Middle East through Dubai, in India via a GIFT City branch, and in Latin America, principally Brazil, alongside its Africa-wide network (54 countries and 10 offices).

It is the largest reinsurer in Africa, commanding over 20% of the regional market, and carries established international credit ratings, including A (Excellent/Stable) from AM Best since 2016 and A (Strong/Stable) from S&P since 2025. Since its founding in 1976, Africa Re has pursued a consistent mandate to bolster resilience and insurability across the continent, scaling its reach and impact. A notable recent development is the Lagos Flood Risk Insurance Policy launched in 2026 in partnership with Lagos State and other stakeholders, reflecting its role in risk financing solutions.

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