Africa Reinsurance to open its regional office in Sudan next July

African Reinsurance Corporation (Africa Re), Africa’s leading reinsurer, is to inaugurate its resident office in Sudan next July, its regional director in Egypt, Omar Gouda told Amwal Al Ghad Tuesday.

The new resident office is part of Africa Re’s plan to expand in the Arab and African countries, Gouda added.

Sudan is one of the promising African insurance markets, due to having the technical, human, and financial capabilities to grow and revive, the Egyptian official stated.

The African Reinsurance Corporation (Africa Re) was established on 24 February, 1976 following a recommendation of the African Development Bank (AfDB), with the aim of reducing the outflow of foreign exchange from the continent by retaining a substantial proportion of the reinsurance premiums generated therein.