The 171st meeting of the board of directors of the reinsurance group Africa Re brought together an audience of guests in Balaclava. For once, the group achieved premiums in excess of USD 1 billion.

Africa Re is a leading reinsurer on the African continent. It can boast of managing one of the highest premium volumes and having the best financial ratings. Indeed, Dr. Mohammed Ahmed Maait, Chairman of African Reinsurance Corporation (Africa Re) and Egyptian Finance Minister said that this is the first time that the group has achieved premiums in excess of USD 1 billion. A record achieved thanks to the performance of its eight offices located in Brazil, Africa, the Middle East and Southeast Asia.

noted that the mission of the group is to foster the development of the insurance and reinsurance industry in Africa, to promote the growth of national, regional and sub-regional capacities for underwriting and retaining insurance risks, while supporting the economic development of Africa.