ZEP-RE (PTA Reinsurance Company) is a specialised institution of the Common Market for Eastern and Southern Africa (
COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whi ...
) created under charter. The Company is currently headquartered in
Nairobi, Kenya
Nairobi is the capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai phrase , which translates to 'place of cool waters', a reference to the Nairobi Riv ...
.
Overview
ZEP-RE (PTA Reinsurance Company) is an institution of the Common Market for Eastern and Southern Africa (
COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whi ...
), established by an Agreement signed by Heads of States and Governments on 23 November 1990 in
Mbabane
Mbabane () is the most populous city in Eswatini (previously called Swaziland), and is one of the two Capital (political), capitals (along with Lobamba), serving as the Executive (government), executive capital.
It has an estimated population of ...
, Swaziland. The signatory Member States to the Agreement establishing the Company include:
Angola
Angola, officially the Republic of Angola, is a country on the west-Central Africa, central coast of Southern Africa. It is the second-largest Portuguese-speaking world, Portuguese-speaking (Lusophone) country in both total area and List of c ...
,
Burundi
Burundi, officially the Republic of Burundi, is a landlocked country in East Africa. It is located in the Great Rift Valley at the junction between the African Great Lakes region and Southeast Africa, with a population of over 14 million peop ...
,
Comoros
The Comoros, officially the Union of the Comoros, is an archipelagic country made up of three islands in Southeastern Africa, located at the northern end of the Mozambique Channel in the Indian Ocean. Its capital and largest city is Moroni, ...
,
Democratic Republic of Congo
The Democratic Republic of the Congo (DRC), also known as the DR Congo, Congo-Kinshasa, or simply the Congo (the last ambiguously also referring to the neighbouring Republic of the Congo), is a country in Central Africa. By land area, it is t ...
,
Djibouti
Djibouti, officially the Republic of Djibouti, is a country in the Horn of Africa, bordered by Somalia to the south, Ethiopia to the southwest, Eritrea in the north, and the Red Sea and the Gulf of Aden to the east. The country has an area ...
,
Eritrea
Eritrea, officially the State of Eritrea, is a country in the Horn of Africa region of East Africa, with its capital and largest city being Asmara. It is bordered by Ethiopia in the Eritrea–Ethiopia border, south, Sudan in the west, and Dj ...
,
Ethiopia
Ethiopia, officially the Federal Democratic Republic of Ethiopia, is a landlocked country located in the Horn of Africa region of East Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east, Ken ...
,
Kenya
Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...
,
Lesotho
Lesotho, formally the Kingdom of Lesotho and formerly known as Basutoland, is a landlocked country in Southern Africa. Entirely surrounded by South Africa, it is the largest of only three sovereign enclave and exclave, enclaves in the world, t ...
,
Madagascar
Madagascar, officially the Republic of Madagascar, is an island country that includes the island of Madagascar and numerous smaller peripheral islands. Lying off the southeastern coast of Africa, it is the world's List of islands by area, f ...
,
Malawi
Malawi, officially the Republic of Malawi, is a landlocked country in Southeastern Africa. It is bordered by Zambia to the west, Tanzania to the north and northeast, and Mozambique to the east, south, and southwest. Malawi spans over and ...
,
Mauritius
Mauritius, officially the Republic of Mauritius, is an island country in the Indian Ocean, about off the southeastern coast of East Africa, east of Madagascar. It includes the main island (also called Mauritius), as well as Rodrigues, Ag ...
,
Mozambique
Mozambique, officially the Republic of Mozambique, is a country located in Southeast Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Eswatini and South Afr ...
,
Rwanda
Rwanda, officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of East Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator, Rwanda is bordered by ...
,
Somali,
Sudan
Sudan, officially the Republic of the Sudan, is a country in Northeast Africa. It borders the Central African Republic to the southwest, Chad to the west, Libya to the northwest, Egypt to the north, the Red Sea to the east, Eritrea and Ethiopi ...
,
Tanzania
Tanzania, officially the United Republic of Tanzania, is a country in East Africa within the African Great Lakes region. It is bordered by Uganda to the northwest; Kenya to the northeast; the Indian Ocean to the east; Mozambique and Malawi to t ...
,
Uganda
Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the ...
,
Zambia
Zambia, officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa. It is typically referred to being in South-Central Africa or Southern Africa. It is bor ...
and
Zimbabwe
file:Zimbabwe, relief map.jpg, upright=1.22, Zimbabwe, relief map
Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Bots ...
. 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.
Credit rating
ZEP-RE is rated of B++ (Financial Strength Rating) and ‘bbb’ (Long-Term Issuer Credit Rating) by
A.M. Best. The Company also holds a claim paying ability rating of AA+ with the Global Credit Rating (GCR) agency of South Africa.
Shareholders
As of December 2016, ZEP-RE has 36 shareholders composed of COMESA member states and institutional shareholders
* Government of
Djibouti
Djibouti, officially the Republic of Djibouti, is a country in the Horn of Africa, bordered by Somalia to the south, Ethiopia to the southwest, Eritrea in the north, and the Red Sea and the Gulf of Aden to the east. The country has an area ...
* Government of
Kenya
Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...
* Government of
Mauritius
Mauritius, officially the Republic of Mauritius, is an island country in the Indian Ocean, about off the southeastern coast of East Africa, east of Madagascar. It includes the main island (also called Mauritius), as well as Rodrigues, Ag ...
* Government of
Rwanda
Rwanda, officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of East Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator, Rwanda is bordered by ...
* Government of
Sudan
Sudan, officially the Republic of the Sudan, is a country in Northeast Africa. It borders the Central African Republic to the southwest, Chad to the west, Libya to the northwest, Egypt to the north, the Red Sea to the east, Eritrea and Ethiopi ...
* Government of
Zambia
Zambia, officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa. It is typically referred to being in South-Central Africa or Southern Africa. It is bor ...
*
AfDB
*
DEG
* GXA
* SOCABU
* Assurances BICOR
*
Kenya-Re
* Blue Shield Insurance Company
* Mayfair Insurance Company Ltd.
* Apollo Insurance Company Ltd.
* EMOSE
* SONARWA
*
SORAS
* United Insurance Company Ltd. (Sudan)
* Sheikan Ins. & Reins. Ltd
* Juba Insurance Company Ltd
* National Insurance Corporation Ltd. (Tanzania)
* Zanzibar Insurance Corporation
* PPF
*
National Insurance Corporation Ltd. (Uganda)
* Lion Assurance of Uganda Ltd.
*
Statewide Insurance Company Ltd
* Zambia State Insurance Corporation Ltd.
* Zambia State Insurance Corporation – Pension Trust
* COMESA Secretariat
*
TDB
* Baobab Reinsurance Company Ltd.
* CMAR (NY Havana)
* SONAS
* National Insurance Corporate of Eritrea S.C.
* Amerga
Locations
ZEP-RE is headquartered in Nairobi,
Kenya
Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...
with regional and operates hubs and country offices in
Cameroon
Cameroon, officially the Republic of Cameroon, is a country in Central Africa. It shares boundaries with Nigeria to the west and north, Chad to the northeast, the Central African Republic to the east, and Equatorial Guinea, Gabon, and the R ...
,
Cote d’Ivoire,
Ethiopia
Ethiopia, officially the Federal Democratic Republic of Ethiopia, is a landlocked country located in the Horn of Africa region of East Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east, Ken ...
,
Democratic Republic of Congo
The Democratic Republic of the Congo (DRC), also known as the DR Congo, Congo-Kinshasa, or simply the Congo (the last ambiguously also referring to the neighbouring Republic of the Congo), is a country in Central Africa. By land area, it is t ...
,
Uganda
Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the ...
,
Zambia
Zambia, officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa. It is typically referred to being in South-Central Africa or Southern Africa. It is bor ...
,
Zimbabwe
file:Zimbabwe, relief map.jpg, upright=1.22, Zimbabwe, relief map
Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Bots ...
and
Sudan
Sudan, officially the Republic of the Sudan, is a country in Northeast Africa. It borders the Central African Republic to the southwest, Chad to the west, Libya to the northwest, Egypt to the north, the Red Sea to the east, Eritrea and Ethiopi ...
. It enjoys mandatory concessions that grant it at least 10 percent of the reinsurance business in several countries.
See also
*
Trade and Development Bank
The Trade and Development Bank (TDB), formerly the PTA Bank, is a trade and development financial institution operating in eastern and southern Africa. TDB is the financial arm of the Common Market for Eastern and Southern Africa (COMESA), al ...
References
External links
*
*{{cite web, url=https://www.afdb.org/en/news-and-events/insurance-and-reinsurance-in-africa-the-afdb-supports-zep-res-business-expansion-plans-13318/, title=Insurance and reinsurance in Africa: the AfDB supports ZEP-RE's business expansion plans, website=Afbd.org, access-date=1 June 2018
Financial services companies established in 1990
Companies based in Nairobi
Reinsurance companies
1990 establishments in Africa