ZEP-RE

Last updated
ZEP-RE (PTA Reinsurance Company)
FoundedNovember 23, 1990;33 years ago (1990-11-23)
Headquarters
Nairobi
,
Kenya

ZEP-RE (PTA Reinsurance Company) is a specialised institution of the Common Market for Eastern and Southern Africa (COMESA) created under charter. The Company is currently headquartered in Nairobi, Kenya.

Contents

Overview

ZEP-RE (PTA Reinsurance Company) is an institution of the Common Market for Eastern and Southern Africa (COMESA), established by an Agreement signed by Heads of States and Governments on 23 November 1990 in Mbabane, Swaziland. The signatory Member States to the Agreement establishing the Company include: Angola, Burundi, Comoros, Democratic Republic of Congo, Djibouti, Eritrea, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Rwanda, Somali, Sudan, Tanzania, Uganda, Zambia and Zimbabwe. [1] As a result of the multinational agreement the company was formed in 1992.

The key objectives of the company as outlined in its charter include fostering the development of the insurance and reinsurance industry in the COMESA sub-region, promotion of the growth of national, sub-regional and regional underwriting and retention capacities and supporting sub-regional economic development. [2]

Credit rating

ZEP-RE is rated of B++ (Financial Strength Rating) and ‘bbb’ (Long-Term Issuer Credit Rating) by A.M. Best. [3] [4] [5] The Company also holds a claim paying ability rating of AA+ with the Global Credit Rating (GCR) agency of South Africa. [6]

Shareholders

As of December 2016, ZEP-RE has 36 shareholders composed of COMESA member states and institutional shareholders

Locations

ZEP-RE is headquartered in Nairobi, Kenya [7] with regional and operates hubs and country offices in Cameroon, Cote d’Ivoire, Ethiopia, [8] Democratic Republic of Congo, Uganda, Zambia, Zimbabwe [9] and Sudan. It enjoys mandatory concessions that grant it at least 10 percent of the reinsurance business in several countries. [10]

See also

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References

  1. ↑ "Archived copy". www.parlzim.gov.zw. Archived from the original on 7 February 2017. Retrieved 14 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ↑ "ZEP-RE (PTA Reinsurance Company) - Africa Outlook Magazine". Africa Outlook Magazine. Retrieved 1 June 2018.
  3. ↑ "A.M. Best Affirms Credit Ratings of ZEP-RE (PTA Reinsurance Company)". 12 January 2018. Retrieved 1 June 2018.
  4. ↑ [ dead link ]
  5. ↑ "A.M. Best Affirms Credit Ratings of ZEP-RE (PTA Reinsurance Company)". www.yahoo.com. Retrieved 1 June 2018.
  6. ↑ "Global Credit Ratings Co. (GCR) - GCR affirms ZEP-Re's (PTA Reinsurance Company) rating of AA+(KE); Outlook Stable". globalratings.net. Retrieved 1 June 2018.
  7. ↑ "ZEP-RE (PTA Reinsurance Company): Private Company Information - Bloomberg". Bloomberg.com. Retrieved 1 June 2018.
  8. ↑ Berhane, Samson (6 June 2017). "Ethiopia: Zep Re Opens Ethiopian Office in Reinsurance Push" . Retrieved 1 June 2018– via AllAfrica.
  9. ↑ "ZEP-RE (Membership of Zimbabwe and Branch Office Agreement) - H.B. 9-2016 - veritaszim". Veritaszim.net. Retrieved 1 June 2018.
  10. ↑ Joomla. "ZEP-RE Profit Soars USD 19.9 million". Unitedinsurance.ws. Retrieved 1 June 2018.
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