ZEP-RE (PTA Reinsurance Company) was created under the auspices of the then Preferential Trade Area (the precursor to COMESA).
The Company was to promote the trade in insurance and reinsurance trade through creation of capacity, training of the region’s insurance personnel, provision of technical services and the re-investment of premium funds within the region. When the Preferential Trade Area became COMESA, ZEP-RE was recognised as one of its institutions under Article 174.
ZEP-RE is the French acronym for PTA Reinsurance Company and which translates to ‘compagnie de réassurance de la zone préférentielle’.
ZEP-RE was established on 23rd November, 1990 in Mbabane, Swaziland through an Agreement of Heads of State and Governments.The Company started operations in August 1992 with its headquarters in Nairobi, Kenya.
Signatory Member States
- The original signatory Member States were:-Angola, Burundi, Comoros, Djibouti, Kenya, Lesotho, Malawi, Mozambique, Rwanda, Somali, Sudan, Tanzania, Uganda, Zambia and Zimbabwe.
- Since then the following Member States have acceded to the Agreement establishing ZEP-RE:-D.R. Congo, Eritrea, Ethiopia, Madagascar and Mauritius.
- Foster the development of the region’s insurance and reinsurance industry.
- Promote the growth of national and regional underwriting and retention capacity.
- Support sub-regional economic development
- Transact reinsurance business within and outside the Region.
- Create and administer pools for the interest of the Region's insurance markets.
- Train insurance and reinsurance industry personnel in the Region.
- Provide technical assistance to the insurance industry of the Region.
- Invest premiums in the Region to promote economic development.
- Promote contacts and business co-operation in the Region.