On 12th July 2024, the Africa Re Group Managing Director/Chief Executive Officer (GMD/CEO), Dr. Corneille Karekezi, was Chief Host at a market cocktail organized by the Nairobi regional office at the new JW Marriot Hotel, in Westlands, Nairobi. The cocktail, attended by 126 senior executives in the insurance industry, was themed, Celebrating milestones and strong business relationships.

Dr. Karekezi noted that 2023 was a significant year for the Corporation as we crossed the psychological milestone of US$ 1 Billion in Revenue with a record of US$ 1.1 Billion in Gross Written Premiums and a milestone Net Profit of US$ 126 Million despite the significant year-on-year depreciation of our operating currencies. He thanked all our clients and highlighted the significant contribution from Kenya in particular, and the broader East African market to the Corporation’s performance in both top and bottom-line.

Dr Corneille Karekezi noted that support to Africa Re is support to African economic development and integration. With the gathering taking place in the aftermath of widespread political violence and flood events, the GMD/CEO reiterated Africa Re’s resolute commitment to providing reinsurance solutions that build economic resilience and protect individuals, businesses and government from known and emerging risks.

Representing the Commissioner of Insurance, Ms. Anne Chelagat, the Head of Market Conduct at Kenya’s Insurance Regulatory Authority (IRA) acknowledged the important role that Africa Re plays to provide reinsurance capacity in Kenya.

The GMD/CEO used the occasion to formally inform the local market that Mr. Kiiza Bichetereo, previously the Regional Director in the Nairobi office, had been appointed by the Africa Re Board of Directors to the position of Group Deputy Managing Director/Chief Operating Officer (DMD/COO). With effect from 1st July 2024, Mr. Bichetero began a 12-month transition programme with the incumbent DMD/COO, Mr. Ken Aghoghovbia. Mr. Bichetero has endeared himself to many friends in the East African market and has established a reputation for commitment to clients, strategic foresight and technical excellence. He will continue to supervise the East African market and the rest of the Africa Re portfolio in a supervisory capacity. Dr. Karekezi further announced Dr. Phocas Nyandwi as the 7th Regional Director of the East Africa Region. Dr. Nyandwi previously served the local market for almost 10 years in different capacities before he was transferred to our Corporate Head Office in 2019. He has built strong relationships and understands the regional and continental market dynamics.