The African Reinsurance Corporation (Africa Re) was established February 24, 1976 in Yaoundé, Cameroon, on the recommendation of the African Development Bank (ADB), the signature by plenipotentiary representatives of 36 state members of the Organization of African Unity (OAU) and said bank of an international agreement to reduce the output of currencies of Africa in retaining a substantial portion of reinsurance premiums.
This document, known as more of Agreement Creating the African Reinsurance Corporation Africa Re gives the current status and the legal authority to carry out its activities.
To date, AFRICA RE 41 members and the African Development Bank, which is the main shareholder (with 200 shares).
This agreement also entitles any member to transfer its national institutions, such as banks or insurance companies, power d'acquérir actions which are reserved. Ceding to allow greater participation in the activities of society and to be involved in its management, third capital Africa Re was opened in 1992; insurance companies have a majority shareholding national.
A number of companies have already subscribed and paid shares allocated to them It was also decided to expand the Board of Directors with representatives of insurance companies by reserving three seats.
In addition, in 2001, it was decided to increase the capital of the Corporation at U.S. $ 100 million and open to non-African investors, to meet the need for strategic alliances.
That is four (4) Development Finance Institutions (DFIs) have subscribed and acquired 21% stake in Africa Re, bringing the number of shareholders AAA five (5) and now represent 29% of the shareholding in the company. In 2012 IRB-Brasil Re, the main reinsurance company in Brazil, became a shareholder of Africa Re
For more information about Africa Re candidate kindly visit at www.africa-re.com. The African Reinsurance Corporation (Africa Re) invites from experienced, smart and trendy individuals to fill the following positions:
How to apply?
Interested candidates are requested to visit the Africa Re website at www.africa-re.com/careersandtenders/page/49/current-vacancies to apply online.
