• Ivory Coast–based NSIA Group created its own reinsurance company, Manzi Re, after receiving regulatory approval from the CRCA.
• NSIA appointed former CIMA insurance supervisor Thomas Yebouet as chief executive officer of the new reinsurer.
• The move aims to internalize reinsurance operations and reduce reliance on international reinsurers as African insurance markets evolve.

Ivory Coast–based NSIA Group announced on Friday, January 9, 2026, the creation of its own reinsurance company, named Manzi Re. The Commission Régionale de Contrôle des Assurances approved the new entity, which fits into the group’s strategy to strengthen risk management and support its expansion across Africa.

Through this captive reinsurance structure, NSIA aims to internalize part of its reinsurance operations. The group seeks greater autonomy at a time when African insurance groups are trying to reduce dependence on large international reinsurers.

At the same time, NSIA aims to strengthen its competitiveness in an increasingly competitive insurance market.

NSIA appointed Thomas Yebouet as chief executive officer of Manzi Re.

Before this appointment, Yebouet served as chief operating officer of NSIA Insurance Nigeria. He gained operational experience across African insurance markets and worked as a consultant for NSIA, where he provided technical support to subsidiaries in West and Central Africa. He also served as NSIA Group Director of Control and Compliance.

Yebouet previously worked at the Inter-African Conference on Insurance Markets (CIMA) between 2006 and 2014. During that period, he held the position of Chief Insurance Supervisory Commissioner and oversaw insurance company supervision in the WAEMU and CEMAC zones.

A Market Undergoing Change

The launch of Manzi Re comes as insurance penetration rates remain low across Africa.

In this environment, reinsurance enables local insurers to pool risks, expand underwriting capacity, and offer products better suited to local economic and social conditions.

In addition, the rise in climate, health, and economic risks increases the strategic importance of reinsurance. Reinsurance strengthens the resilience of African insurers and allows them to expand into segments such as industrial risks and natural disaster coverage.

Major players dominate the African reinsurance market, including Africa Re, Munich Re Africa, Atlantic Re, Compagnie Centrale de Réassurance, and Swiss Re Africa.

This article was initially published in French by Sandrine Gaingne

Adapted in English by Ange Jason Quenum