Angolan reinsurance company will be called Ango RE

28 June 2016

Angola’s first reinsurer will be called Ango RE and it is due to be set up soon, the president of the Angolan Insurance Regulation Agency said in Kigali, Rwanda, according to an official statement issued in Luanda.

The Finance Ministry said in the statement that Aguinaldo Jaime had made the announcement at the 38th Annual General Meeting of Africa RE, the pan-African reinsurer, of which Angola is one of the 41 shareholders. Jaime also discussed the matter with representatives of Africa RE.

Africa RE was founded in 1976 in Cameroon, by 36 African leaders and the African Development Bank (ADB), in order to reduce capital outflows in foreign currency to other continents, retaining a substantial percentage of reinsurance premiums generated in African economies.

The pan-African reinsurer is based in Lagos, Nigeria and has regional offices in Abidjan, Cairo, Casablanca, Ebene (Mauritius), Johannesburg and Nairobi. (macauhub/AO)