Africa Re sets to train young reinsurance professionals

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Africa Reinsurance Corporation, Africa Re, has launched the 2021 Young Insurance Professionals Annual Program.

The 13-module program gives access to a nine-month online training course on reinsurance technical accounting, claims management and marine reinsurance.

The training targets the citizens of Africa Re’s member states (aged 32 years or less). The application deadline is on 15 November 2020.

Successful candidates will be sent an email before 22 January 2021 and shall start the program in February 2021.

The training is designed in collaboration with the London School of Insurance.

The reinsure has also established its first office outside the continent. The company has settled in the Dubai International Financial Centre (DIFC).

Africa Re Underwriting Agency Limited will provide conventional and Takaful reinsurance services to the entire Middle East region.

Afirca Re as at  30 June 2020, the reinsurer recorded a turnover of 393.04 million USD: a decrease of 8.99 percent compared to the 431.87 million USD established at the end of June 2019.

Such a decline is due to the depreciation of several African currencies mainly in South Africa, Nigeria, Algeria, Tunisia, …

The net technical result amounted to 5.47 million USD in the first half of 2020 against a loss of 14.32 million USD in 2019.

The net profit showed an increase of 30.09% from 14.39 million USD in 2019 to 18.72 million USD one year later. The combined ratio improved by 6.39 points and was set at 98.21 percent.

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