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 name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper h ...
.
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, Swaziland. The signatory Member States to the Agreement establishing the Company include:
Angola
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,
Burundi,
Comoros,
Democratic Republic of Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
,
Djibouti
Djibouti, ar, جيبوتي ', french: link=no, Djibouti, so, Jabuuti 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 ...
,
Eritrea,
Ethiopia
Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the ...
,
Kenya
)
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,
Lesotho,
Madagascar
Madagascar (; mg, Madagasikara, ), officially the Republic of Madagascar ( mg, Repoblikan'i Madagasikara, links=no, ; french: République de Madagascar), is an island country in the Indian Ocean, approximately off the coast of East Africa ...
,
Malawi
Malawi (; or aláwi Tumbuka: ''Malaŵi''), officially the Republic of Malawi, is a landlocked country in Southeastern Africa that was formerly known as Nyasaland. It is bordered by Zambia to the west, Tanzania to the north and northeas ...
,
Mauritius
Mauritius ( ; french: Maurice, link=no ; mfe, label= Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It ...
,
Mozambique
Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...
,
Rwanda,
Somali,
Sudan,
Tanzania
Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...
,
Uganda
}), is a landlocked country in East Africa. The country 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 south by Tanzania. The sou ...
,
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...
and
Zimbabwe
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and ...
. 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, ar, جيبوتي ', french: link=no, Djibouti, so, Jabuuti 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 ...
* Government of
Kenya
)
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* Government of
Mauritius
Mauritius ( ; french: Maurice, link=no ; mfe, label= Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It ...
* Government of
Rwanda
* Government of
Sudan
* Government of
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...
*
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
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with regional and operates hubs and country offices in
Cameroon
Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west-central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the C ...
,
Cote d’Ivoire
Ivory Coast, also known as Côte d'Ivoire, officially the Republic of Côte d'Ivoire, is a country on the southern coast of West Africa. Its capital is Yamoussoukro, in the centre of the country, while its largest city and economic centre is ...
,
Ethiopia
Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the ...
,
Democratic Republic of Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
,
Uganda
}), is a landlocked country in East Africa. The country 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 south by Tanzania. The sou ...
,
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...
,
Zimbabwe
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and ...
and
Sudan. It enjoys mandatory concessions that grant it at least 10% 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), alth ...
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