Africa Re, also known as African Reinsurance Corporation, has posted impressive financial results for the third quarter of 2025 (Q3 2025). The reinsurer reported a significant rise in gross written premiums, which increased by 11.05% year on year, reaching an impressive $976.17 million. This marks a solid recovery and growth trajectory for the company, especially given the challenging global economic climate.
Under the new IFRS 17 accounting standards, the company also saw a 6.93% increase in gross reinsurance revenue, which reached $932.67 million in Q3 2025, compared to $872.20 million in the same period the previous year. The growth in premium income was primarily driven by robust performances across various key markets, supported by the acquisition of new facultative accounts and enhanced retention rates for existing policies.
Favorable foreign exchange movements also played a crucial role in boosting revenue, with an additional $19.41 million in premium growth attributed to these fluctuations. The company’s disciplined approach to risk selection and portfolio management allowed it to maintain profitability despite increasing claims activity during the quarter.
Africa Re’s underwriting profit for Q3 2025 stood at $72.62 million under IFRS 4, reflecting a strategic focus on portfolio diversification and cost management. However, this figure was slightly lower than last year’s, with an 8.68% decrease from Q3 2024, largely due to higher claims activity.
A standout highlight for the company was its impressive reduction in foreign exchange losses, which dropped by 65.5%, from $9.82 million in Q3 2024 to just $6.83 million in Q3 2025. This positive outcome was accompanied by stringent cost controls that kept expenses 6.5% below budget, further contributing to the company’s overall profitability. Investment returns also performed strongly, adding to the positive financial results.
Africa Re’s net profit after tax reached a historic high of $142.65 million in Q3 2025, a nearly 9% increase compared to the same period last year. The company’s total comprehensive income soared by 40.81%, reaching an all-time high of $175.19 million. The combined ratio stood at 90.34%, demonstrating a sound underwriting performance.
As of September 30, 2025, Africa Re’s total assets amounted to $2.69 billion, reflecting a solid 14.11% increase since the start of the year. These results showcase the company’s resilience and strong financial position, positioning it well for future growth in the global reinsurance market.