The Board of Directors of the African Reinsurance Corporation (Africa Re) decided to extend the term of office of the Group Managing Director and Chief Executive Officer Dr. Corneille Karekezi for five years until 30 June 2026.
The beginning of the new term of the CEO coincides with the departure of Mr. Hassan Boubrik, who has been Chairman of the Board of Directors and the General Assembly of Africa Re Group for 8 years. Mr. Boubrik, who has recently left the insurance and reinsurance industry and joined a similar industry in his country Morocco, is now the Director General of the National Social Security Fund (CNSS).
In his statement to the 43rd General Assembly of Africa Re, which was held virtually on 30 June 2021, Mr. Hassan Boubrik highlighted the achievements of the institution during his tenure: “the Corporation achieved, for the first time, many milestones; such as the US$ 100 million as annual net profit, the US$ 1 billion of liquidity, the US$ 1 billion of shareholders’ funds and the prestigious Full A financial rating by AM Best”. He further expressed appreciation to Africa Re staff in all locations and the Management team led by Dr Corneille Karekezi and emphasized that this “incredible team of Africans have demonstrated beyond any doubt what Africans, when they come together and are determined, can achieve in the face of the world”.
As he starts his new five-year term of office, the CEO Dr. Corneille Karekezi stated “I am thankful to the Board of Directors of Africa Re for its confidence in me. I am also excited about the bright prospects of the Corporation in the coming years. Together with my Deputy, Mr. Ken Aghoghovbia, whose term of office has also been extended for 3 years, and with all the support of our colleagues in all our offices across the African continent, we will continue to pursue the mission of the African Reinsurance Corporation, develop insurance markets, support them with a superior reinsurance security, client service and underwriting capacity, contribute to the development of African economies and add value to all our shareholders”.
Dr. Corneille Karekezi studied in Burundi, UK, Israel and France where he obtained several degrees in economics, finance, global leadership and business administration. He began his career in direct insurance and joined Africa Re Group in 2009. In his capacity as CEO he has been responsible for the Group’s strategic and operational development since 1 July 2011. Based on his long-standing professional and management experience and a strong focus on excellence, transformational leadership, balanced result, people orientation and insurance market growth, he has steered the Group on a successful trajectory. His experience has enabled him to sustain Africa Re’s market leadership and transform it into a leading pan-African financial organization.