Swiss Re Africa: 75 Years Partnering for Progress to Make Africa More Resilient

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Swiss Re Africa: 75 Years Partnering for Progress to Make Africa More Resilient

In 2025, Swiss Re Africa proudly celebrates 75 years of pioneering reinsurance operations on the continent. This milestone underscores the company's unwavering commitment to client-centricity and partnership, driving progress and development in the sector. From its first reinsurance contract in South Africa to becoming a major market player, Swiss Re Africa has continuously shaped the African re/insurance landscape with innovative solutions and strong partnerships. With a dedicated team and a comprehensive range of services, Swiss Re Africa covers a broad spectrum of risks, enhancing the population's life span, health span, and wealth span.

  • Our vision is to make the world more resilient. Over these 75 years, we have established strong partnerships with our clients to foster industry growth in innovative ways, leveraging tech-driven operational efficiencies to protect more people in more ways and increase societal resilience.
    Profile photo of Carli Jacobs.
    Carli Jacobs, CEO Swiss Re Africa

Timeline 75 Years of Swiss Re in Africa

Explore key highlights from our journey supporting progress, resilience, and recovery across the continent.

  • 1950 - Establishment of Swiss-South African Reinsurance Company Ltd. (SSAR) in Johannesburg on the 10th November 1950 with an initial investment of USD 1 million in capital and surplus funds. SSAR was Swiss Re's first foreign subsidiary incorporated outside Europe and North America to carry out all types of insurance and reinsurance business.
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  • 1951 - First premium received and first loss paid by SSAR. Framed original cheque.
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  • 1958 - SSAR purchased Alliance Investment Company Ltd in 1957 and its office building ("Beresford Haus"). In 1958 SSAR moved to the new premises and renamed it to "Swiss House".
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  • 1960s - Swiss Re's overseas Superintendent C. E. Geiser visits newly independent countries, forging strong ties with emerging African insurers. In Ghana, Liberia, and Nigeria, Swiss Re quickly becomes the top reinsurer as national insurance corporations are established.
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  • 1962 - The Swiss Insurance Training Center (SITC) in Zurich included participants from Ethiopia, Nigeria, Sudan, and Uganda. In its first 25 years, the SITC hosted more than 1,300 participants from 80 countries. The center received recognition from the African Insurance Organization and FANAF for its significant contributions to educating African insurance professionals and advancing primary and reinsurance markets in Africa.
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  • 1980s - Amid the AIDS epidemic, Swiss Re actuaries in South Africa pioneered innovative insurance products for the market.
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  • 1980s - South Africa’s decision to delegate its pension system to the private market boosted life insurance, with Swiss Re providing reinsurance capacity and expertise that helped drive innovation, product development, and broader coverage.
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  • 1984 – Swiss Re Africa moves its nearly 200 workforce to Swiss Park in Parktown, Johannesburg. High inflation, sluggish economic growth, unemployment and a severe drought, combined with natural disasters resulted in an industry loss of approximately ZAR 142 million.
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  • 1995-1997 – Swiss Re's acquisitions of Dutch Alhermij, Mercantile & General Re and Life Re propelled it to rank number 1 in Life & Health reinsurance in sub-Saharan Africa and globally.
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  • 1999 - Swiss Re maintained its leading role in the market and moved into new premises in Claremont, Cape Town.
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  • 2000 - Swiss Re celebrated 50 years in South Africa with investments under management of R4.7 billion and 235 employees.
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  • 2013 - Swiss Re launches a dedicated long-term strategy for sub-Saharan Africa focusing on insurance penetration, sustainable development and building strong partnerships.
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  • 2014 – Swiss Re Corporate Solutions Africa was officially incorporated in South Africa to offer commercial insurance risk transfer services.
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  • 2016 – Inaugural year of the «Swiss Re Class of Excellence». A key initiative from Swiss Re’s SSA long-term strategy. The program was designed to educate and empower African insurance professionals by providing comprehensive training on reinsurance covering contractual clauses, premium and claims calculations as well as IFRS standards to help professionals identify optimal reinsurance solutions for their companies.
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  • 2020 – Covid-19 pandemic crisis. Swiss Re leads business partners and society at large through the pandemic storm.
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  • 2021 – Swiss Re Africa achieves its Level 1 B-BBEE status in South Africa, a major milestone in our commitment to meaningful economic and inclusive transformation.
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  • 2021 — Amid civil unrest in South Africa, Swiss Re, as lead reinsurer, facilitated early political violence reinsurance claim payments to support its client’s cash flow and expedite payouts to policyholders.
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  • 2022 – Swiss Re, as a leading catastrophe reinsurer protects countries in Africa against consequences of devastating floods - like those in 2022 in KwaZulu-Natal, the deadliest and costliest floods in South Africa’s recent history.
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  • 2023 – Carli Jacobs appointed CEO Swiss Re Africa and Head L&H Reinsurance Southern Africa.
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  • 2025 – Swiss Re Africa celebrates 75 Years of learnings and growth together in partnership with the continent.
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Swiss Re Africa today

Swiss Re Africa today has a dedicated team of over 100 experts in our offices in Johannesburg and Cape Town. We offer comprehensive reinsurance risk transfer services tailored to the African market across life and health and property and casualty reinsurance.

Swiss Re has a composite reinsurance license in South Africa. Our retrocession reinsurance agreements are covering almost every country across the continent.

We are a Level 1 Broad-Based Black Economic Empowerment (B-BBEE) accredited reinsurer, indicating that we have achieved a high level of participation and empowerment of South Africans.

Carli Jacobs, CEO Swiss Re Africa

Over the decades, Swiss Re has driven the re/insurance evolution in Africa by partnering with clients to foster industry growth and harnessing technology to expand protection and enhance societal resilience.

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Priyen Mehta, Head P&C Sub-Saharan Africa

Since our first reinsurance contract in South Africa in 1950, Swiss Re Africa has been sharing risk transfer expertise through collaboration and reinsurance solutions for life and health and property and casualty.

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Events

Events Celebrate with us

Join us as we celebrate our 75 Years of Swiss Re’s partnering for progress in Africa on our annual P&C and L&H client event.

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