NamibRe's assets grow to over a billion dollars


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.