CEO Today Africa Awards

29 www.ceotodaymagazine.com CEO Today Africa Awards 2017 NIGERIA At 31 December 2016, the shareholders’ funds amounted to US$812.311 million. Africa Re has a highly diversified shareholder base comprising 41 African Governments, 111 African insurance and reinsurance companies, the African Development Bank (AfDB) and 3 non-regional shareholders (AXA Africa Holding [France]; Fairfax Financial Holding Ltd [Canada] and IRB-Brasil Re [Brazil]). This provides a wide pool from which additional capital can be, and has historically been, relatively easily obtained. The Corporation’s shareholders’ funds have grown substantially organically through profit retentions from its consistently strong Return on Average Equity (2016 ROAE: 12.36%). Africa Re Group is rated “A” (Stable Outlook) by A.M. Best and “A-” (Stable Outlook) by Standard and Poor’s, both of which attest to the strength of the Corporation’s security on an international scale. Africa Re is a proud winner of: • “Best Reinsurance Organisation in Africa” for the past 40 years (1972 to 2012), presented at the 40th Anniversary Celebrations of the African Insurance Organisation in Mauritius in 2012; • “Best Regional Retakaful Company” in 2012, 2013, 2014, 2015 and 2016; • Best Retakaful Company in Africa by International Takaful Summit in London, July 2017; • “Best Reinsurance Company” in Africa awarded by the Capital Finance International (CFi.co, United Kingdom); • “Reinsurance Firm of the Year” in Africa at the Acquisition International’s Global M&A Awards 2015 (United Kingdom); • 2015 “Award for Excellence in Case Management, Insurance Category” from BPM & WfMC in Arlington, Virginia, USA; • Global Most Innovative Quality Oil and Gas Reinsurance Company of the year 2016 by Global Quality Excellence Awards. Tel: + 234 (1) 280 09 24-5; \ + 234 (1) 461 68 29 | Fax: + 234 (1) 280 0074 info@africa-re.com | www.africa-re.com