Africa Re extends CEO Karekezi's contract to 2026; chairman quits board

The  African Reinsurance Corporation (Africa Re) has extended the contract of group managing director and chief executive officer (CEO) Corneille Karekezi until June 2026.

Karekezi's term of office has been extended for another five years. He joined Africa Re Group in 2009, and in his capacity as CEO has been responsible for the group’s strategic and operational development since July 2011.

The start of the new term of the CEO coincides with the departure of Hassan Boubrik, who has been chairman of the board of directors and the general assembly, and is leaving the group after eight years.

Boubrik has recently left the insurance and reinsurance industry and joined a similar industry in Morocco. He is now the Director General of the National Social Security Fund (CNSS).

Boubrik highlighted that the “the Corporation achieved, for the first time, many milestones” during his tenure. He further expressed appreciation to Africa Re staff in all locations and the management team led by Karekezi.

Karekezi said: “I am thankful to the Board of Directors of Africa Re for its confidence in me. I am also excited about the bright prospects of the Corporation in the coming years.

"Together with my Deputy, Mr. Ken Aghoghovbia, whose term of office has also been extended for 3 years, and with all the support of our colleagues in all our offices across the African continent, we will continue to pursue the mission of the African Reinsurance Corporation, develop insurance markets, support them with a superior reinsurance security, client service and underwriting capacity, contribute to the development of African economies and add value to all our shareholders.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.