Africa Re reports net profit of $142.65m in Q3’25 despite increased claims activity

African Reinsurance Corporation has disclosed a net profit after tax for Q3 2025 of $142.65 million, marking an increase of 8.54% year-on-year.

According to the firm, this “historical record” was driven by a significant reduction in foreign exchange losses, which dropped by 65.54% in the quarter to $6.83 million, disciplined cost management that kept expenses 6.52% below budget, and impressive investment returns.

Meanwhile, Africa Re also recorded gross written premiums of $976.17 million for Q3 2025, representing an 11.05% increase compared to the same period in 2024.

At the same time, under IFRS 17, gross reinsurance revenue climbed 6.93% to $932.67 million.
“This notable growth in premium income was primarily fueled by robust performances across several key markets, underpinned by the acquisition of new facultative accounts, enhanced renewal retention rates, and favourable foreign exchange movements,” Africa Re explained.

Notably, Africa Re delivered an underwriting profit of $72.62 million (IFRS 4) in Q3 2025. Despite an 8.68% decline from Q3 2024, which the firm attributed to increased claims activity, the result was presented as evidence of the company’s commitment to disciplined risk selection, improving portfolio diversification, and effective portfolio management.

As mentioned, Africa Re’s investment portfolio performed well in Q3 2025, delivering $79.30 million in income, up 10.53% from Q3 2024.

This was driven by strong interest income from deposits and bonds, and capital gains from bonds and equities.

Dr. Corneille Karekezi, Group MD/CEO of Africa Re, commented, “Our Q3 2025 results reflect the strength of our diversified portfolio and disciplined execution of our defined strategy.

“Despite large loss events and market volatility, we delivered strong premium growth, improved profitability, and enhanced shareholder value. Our investment strategy and cost discipline continue to yield positive results.

“Looking ahead, we remain confident in our ability to navigate emerging risks and seize opportunities across Africa and beyond. Our focus remains on underwriting discipline, operational efficiency, and delivering sustainable value to our stakeholders.”