The African Reinsurance Corporation (Africa Re) in the 2024 financial year recorded a Gross Written Premium of $ 1.214 billion, representing an annual growth of 9.76 percent compared to $ 1.106 billion recorded in 2023.
Just as the net underwriting profit rose to $ 87.343 million, the reinsurance giant realised a net profit after tax of $ 132.364 million.
This growth reflects the Corporation’s successful and sustained marketing efforts to expand existing business organically and acquire new business across product lines and locations, the African reinsurance giant said.