Egypt hosts African Re meetings first time since COVID-19 outbreak

Egypt is hosting on Wednesday the representatives of 42 African countries at the General Assembly and the Board of Directors’ committee meetings of the African Reinsurance Corporation (Africa Re) for the first time after three years since COVID-19 pandemic.

The meetings will discuss the financial results of the African Re in 2021 and the company’s performance in the various African markets.

The meetings are organised in partnership with the Ministry of Finance and the Insurance Federation of Egypt (IFE).

The Minister of Finance Mohamed Maait said; “choosing Egypt to host these meetings is a reflection of the country’s position among African countries and its role in supporting African economic, political and cultural issues.”

Moreover, the meetings meets the Egyptian government’s endeavour to strengthen the Egyptian-African relations and intensify means of cooperation in various fields of development to consolidate the pioneering and pivotal role, Maait continued.

The ongoing global crisis has presented a bunch of opportunities for African cooperation in several sectors, especially in economic areas.

In this regard, African Re can direct investments and its services reinsurance field, as it provides a protection for African companies that are working in this field.

African Re is the largest company in Africa and the Middle East, as it ranks the 39th among grand reinsurance companies globally, Maait added.