Inception Shareholders and Growth
In 1990, PTA Reinsurance Company (ZEP-RE), was established to serve the member states of COMESA. Its origins can be traced back to the signing of the Agreement in Mbabane, eSwatini. Initially, the company’s shareholders consisted of African member states.
However, in 1992, the shareholder base expanded to include renowned organizations such as Kenya Re, Zambia State Insurance Company, National Insurance Corporation of Tanzania, National Insurance Corporation of Uganda, EMOSE, Statewide Uganda, EMOSE Mozambique, and the Government of Sudan. During the same year, private capital injection led to the addition of Statewide Insurance and Lion Insurance Company, both based in Uganda, as shareholders.
Over time, ZEP-RE continued to evolve and attract new investors. Notably, Development Finance Institutions (DFIs) also joined as shareholders, with the African Development Bank becoming a member in 2011 and the German Development Corporation DEG in 2013. These strategic partnerships and the diversification of shareholders have played a vital role in ZEP-RE’s growth and its position as a leading reinsurer in Africa.