Tanzania, May 16 -- Kigali. The African Reinsurance Corporation (Africa Re), a pan-African reinsurance institution owned by African states, insurers and development finance institutions, is urging African governments to treat insurance and reinsurance as strategic economic tools, arguing that stronger insurance markets could help East African countries manage climate shocks, finance infrastructure and reduce dependence on costly external borrowing.

Launching a new strategy report during the Africa CEO Forum in Kigali on Friday, May 15, 2026, Africa Re warned that African economies continue to suffer heavy losses from floods, droughts and other disasters because most risks across the continent remain uninsured.

"Africa is not short of am...