Africa Reinsurance Corporation (Africa Re) inaugurated a new contact office in Kinshasa, Democratic Republic of Congo, on Thursday, October 9, 2025. The move marks another milestone in the expansion strategy of the continent’s leading reinsurer by net premiums and reflects its commitment to supporting the development of local insurance and reinsurance markets.

The Kinshasa office will reinforce Africa Re’s relationship with Congolese insurers and serve as an interface for underwriting reinsurance contracts and transferring technical expertise. It is the latest addition to the group’s network of local offices, joining those in Ethiopia and Uganda, alongside six regional offices in Lagos, Casablanca, Abidjan, Nairobi, Mauritius, and Cairo.

Created in 1976 by 36 member states of the Organization of African Unity, now the African Union, and the African Development Bank, Africa Re has since grown into a pan-African institution with a diversified ownership structure. As of end-2024, its capital was shared among 42 African states (around 33.8%), 112 insurance and reinsurance companies (about 34.9%), the African Development Bank (8.2%), and other minority shareholders.

The group also operates three subsidiaries: Africa Re South Africa Limited and Sherborne Number Ten Parktown Investments Pty Limited, both in South Africa, and Africa Retakaful Company in Egypt, which specializes in Islamic reinsurance. Its headquarters are in Lagos, Nigeria.

During the inauguration, Alain Kaninda, Director General of the Insurance Regulation and Control Authority (ARCA), welcomed Africa Re’s decision to establish a presence in the DRC, describing it as a recognition of the market’s potential. He noted that having a pan-African reinsurer on the ground would strengthen the sector’s credibility and improve risk management practices.

The Congolese insurance industry has grown rapidly since market liberalization in 2019, when private operators were first allowed to enter. According to ARCA, sector revenues rose from about USD 70 million in 2019 to more than USD 350 million in 2024. Projections suggest the market could exceed USD 1 billion within a decade, with insurance density climbing from under USD 1 to roughly USD 5 per capita. Despite this progress, insurance penetration remains low at around 0.71% of GDP, indicating significant room for growth.

The Kinshasa contact office underscores Africa Re’s strategy to deepen its footprint across Africa and contribute to building stronger, more resilient insurance markets on the continent.

Chamberline Moko