Namibia National Reinsurance Corporation (NamibRe) has grown its assets from N$210 million to more than a billion dollars in twenty years. 

Managing Director Patty Karuaihe-Martin revealed this during an update on the organisation's strategic operations at the Government Information Centre (GIC). 

The organisation, she further says, has increased its dividends to the government from N$2 million to N$10 million.

The public enterprise, established in 2001 to provide reinsurance services locally, has been minimising capital outflow from the local insurance industry.

From the initial staff of seven, NamibRe now has 31 staff members.

The strategic focus for the years 2025–2029, among others, is to grow revenue from non-policy sources, expand business in foreign markets, develop products, and broaden and diversify investment income. 

The government implemented the legislative scheme for the creation of NamibRe to limit the outflow of capital from the country through reinsurance premiums.



Selima Henock