Société Sénégalaise de Réassurances

What Société Sénégalaise de Réassurances does

Société Sénégalaise de Réassurances (SEN-RE) is the national reinsurer of Senegal, founded in 1987 in Dakar as a public-private partnership between the State of Senegal and licensed domestic insurance companies. The company operates within the CIMA Zone regulatory framework, which under Law 89-28 mandates that Senegalese primary insurers cede fixed percentages of their business (6.5% of overall premium, 15% of treaty business, and 10% of facultative cases) to SEN-RE as the statutory national reinsurer. This cession monopoly anchors the company's revenue base and effectively makes it the sole domestic counterparty for ceded reinsurance obligations in Senegal, with shareholders drawn from the same pool of cedant insurers.

The company provides treaty and facultative reinsurance across life and non-life lines, with operations diversified across West Africa (81.2% of business), Central Africa (2.6%), North Africa/MENA (8.7%), and other markets (7.5%). Its product portfolio spans standard property, motor, aviation, marine, energy, engineering, liability, and life lines, supplemented by participation in regional risk pools (AFRICA-RE, CICA-RE). SEN-RE generated approximately FCFA 16.4 billion in 2018 (~$27-28M USD) with equity of approximately FCFA 10.9 billion, supporting a balance sheet capable of absorbing treaty cessions from a captive cedant pool. Disclosed operating scale sits in the 51-100 employee range.

SEN-RE's business model converts mandatory cession percentages into a stable revenue stream, complemented by voluntary cessions, retrocession arrangements, and increasingly by facultative business pursued outside the domestic captive pool. Revenue mechanics rely on premium cessions net of retrocession costs, with investment income on float providing secondary returns. Under the Renouveau 2020-2023 strategic plan, the company is pursuing financial rating acquisition, geographic expansion (notably via a Tunis representation office), digital transformation, and entry into specialty lines such as oil and gas and maritime transport — signalling a shift from a purely domestic captive to a regionally competitive African reinsurer.

Name

Société Sénégalaise de Réassurances

Legal name

Société Sénégalaise de Réassurances

Website

https://sen-re.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

Société Sénégalaise de Réassurances (SEN-RE) is Senegal's national reinsurer, established in 1987 under a public-private partnership between the State of Senegal and licensed domestic insurers, operating under a statutory legal cession monopoly within the CIMA Zone and serving Senegalese and broader West African primary insurers.

Ownership category

akta.pro rank

Product category

Reinsurance

NAICS

Reinsurance Carriers (524130), Reinsurance Carriers (52413), Insurance Carriers and Related Activities (524)

akta.pro primary industry

Casualty Treaty Reinsurance (FSAOAEAD)

Keywords

• Reinsurance services
• Treaty reinsurance
• Facultative reinsurance
• Risk assessment
• Reinsurance capacity

Headquarters

HQ city

Dakar

HQ country

Senegal

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Reinsurance Premium Revenue: SENRE earns reinsurance premiums from ceding insurance companies (cedants) through both mandatory legal cession and conventional (voluntary) reinsurance treaties and facultative acceptances. The company accepts treaties and facultative cases in both Life and Non-Life segments. Premium revenue is distributed across branches: Fire/Energy/Engineering, Marine & Aviation, Other Damage Risks, and Life.
2. Investment and Financial Participations: SENRE generates returns from strategic financial participations in other reinsurance and insurance entities and banking institutions across Africa, including stakes in AFRICA-RE, CICA-RE, AVENI-RE, CNASS agricultural insurance, and Banque Atlantique. Total investment portfolio amounts to approximately 1.47 billion F CFA.
3. Technical Training and Advisory Services: SENRE provides fee-based technical training seminars and workshops to cedants covering agricultural insurance, energy insurance, credit-surety insurance, IT, and cybersecurity topics, as well as consulting services for reinsurance plan preparation and account preparation internships.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Société Sénégalaise de Réassurances (SENRE) is the national reinsurer of Senegal providing treaty and facultative reinsurance acceptances in Life and Non-Life segments across fire, engineering, technical risks, marine, credit/surety, and miscellaneous lines, organized into Domestic, CIMA Zone, and Foreign Business capacity tiers. It complements these capacity offerings with risk visit and assessment services, reinsurance program implementation, technical accounting support, claims management, training seminars, market animation, and management of the mandatory legal cession regime established by Law 89-28.

Product overview

SENRE is the National Reinsurer of Senegal operating as a reinsurance company established in 1987 in a public-private partnership. The company offers a comprehensive reinsurance portfolio comprising treaty and facultative acceptance across Life and Non-Life segments, with distinct capacity tiers for Domestic, CIMA Zone, and Foreign Business markets. The product suite includes core reinsurance services supplemented by value-added offerings: risk visit and assessment services, reinsurance program implementation, technical accounting support, claims management expertise, training and professional development programs, market animation services, strategic watch capabilities, CSR initiatives, and management of the legal cession mechanism mandated by Senegalese law. The company is executing a strategic transformation plan ("Renouveau" 2020-2023) that envisions future adoption of AI, workflow automation, blockchain, big data, and cloud technologies to modernize operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Reinsurance Treaty and Facultative Acceptance Treaty and facultative reinsurance acceptance across Life and Non-Life segments covering fire, energy, engineering, marine & aviation, other damage risks, and life lines. Sold to licensed insurance companies in Senegal, CIMA-zone insurers, and international cedants.
• Domestic Senegal Reinsurance Capacity Domestic reinsurance capacity for Senegalese cedants: Fire/Related 25 billion F CFA, Technical Risks 25 billion F CFA, Miscellaneous 8 billion F CFA, Credit Caution 3.5 billion F CFA, Global Bank 3.5 billion F CFA, Marine Body and Faculties 5 billion F CFA, CR Marine 3.5 billion F CFA.
• CIMA Zone Reinsurance Capacity CIMA-zone reinsurance capacity: Fire and Related 30 billion F CFA, Technical Risks 30 billion F CFA, Miscellaneous 13 billion F CFA, Credit Caution 3.5 billion F CFA, Global Bank 3.5 billion F CFA, Marine Body and Faculties 6.5 billion F CFA, CR Marine 5 billion F CFA.
• Foreign Business Reinsurance Capacity Foreign Business reinsurance capacity for international cedants: Fire and Related 10 billion F CFA, Technical Risks 10 billion F CFA, Miscellaneous 10 billion F CFA, Credit Caution 500 million F CFA, Global Bank 500 million F CFA, Marine Body and Faculties 3.5 billion F CFA, CR Marine 3.5 billion F CFA.
• Risk Visit and Risk Assessment Services Expert risk assessment and inspection services delivered by experienced technical teams and partner experts to cedant insurance companies evaluating large and complex risks.
• Reinsurance Program Implementation Assistance to insurance company clients in structuring and setting up their reinsurance programs, including treaty design, layer placement, and facultative arrangements.
• Technical Accounting Support Support to cedants for maintaining and managing their technical insurance accounts, including accounting reconciliation and statutory reporting.
• Claims Assessment and Management Major-claims expertise provided to insurance clients for investigation, adjustment, and settlement of significant insurance losses.
• Training and Technical Assistance Technical training seminars and workshops on agricultural insurance, energy insurance, credit-surety insurance, IT topics, and cybercrime, delivered to cedants and market participants.
• Home Market Animation Market development initiatives including training on advanced risks such as energy, credit guarantee, and cybercrime; participation in the Oil Pool establishment and market digitization projects.
• Refresher Training and Internships Skills-building programs including consulting services for reinsurance plan preparation and account preparation internships for cedants and market participants.
• Strategic Watch and Alert Market monitoring and orientation for cedants including the oil and gas risk insurance pool initiative, oil insurance seminars, and collaborative intelligence with AIO, FANAF, and CIMA.
• Corporate Social Responsibility Program CSR activities including social actions, charitable giving, student internships, and corporate citizenship initiatives.
• Legal Cession Management Management of the mandatory legal cession flow from licensed insurance companies in Senegal: 6.5% of all subscribed business, 15% of concluded treaties, and 10% of facultative placements, administered under Senegalese law.

Quantifiable outcome

• Currency outflow reduction through local reinsurance retention mandated by legal cession
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Société Centrale de Réassurance (SCR) du MaroccoreStrategic or Co-development PartnerSCR Morocco opened its capital to SENRE and the two companies co-organized the Maritime Transport and Security seminar in July 2023. SCR is represented on SENRE's Board of Directors through Mr. Youssef FASSI-FIRHI, Managing Director of SCR Morocco. The partnership provides continental reach and technical collaboration within the African reinsurance ecosystem.
• AFRICA-REcoreStrategic or Co-development PartnerSENRE holds a participation in AFRICA-RE (pan-African reinsurer) of FCFA 123,943,313. The investment generated gains of FCFA 16,629,967 between 2001 and 2009, representing a yield of 13.42%. AFRICA-RE is a key pan-African reinsurance institution.
• CICA-REcoreStrategic or Co-development PartnerSENRE holds a participation in CICA-RE (Confédération des Institutions Financières - Réassurance) of FCFA 240,000,000. CICA-RE is a key regional reinsurer for the CIMA zone.
• AVENI-REminorStrategic or Co-development PartnerSENRE holds a participation in AVENI-RE of FCFA 250,000,000, which generated gains of FCFA 26,250,000 between 2009 and 2011 (yield of 10.50%).
• FANAF (Fédération des Sociétés d'Assurances de Droit Africain)coreStrategic or Co-development PartnerSENRE participates as a partner and sponsor at FANAF general assemblies. At the 46th FANAF general assembly, SENRE conducted interviews and industry outreach, demonstrating its leadership positioning in the African insurance market.
• CIMA (Conférence Interafricaine des Marchés d'Assurances)coreStrategic or Co-development PartnerReinsurance in the CIMA zone is governed by Book 8 of the CIMA Code. SENRE actively participates in orienting reinsurance activity through regular collaboration with CIMA, along with AIO and FANAF. CIMA establishes the regulatory framework within which SENRE operates.
• CNASS - Compagnie Nationale d'Assurance et de Réassurance des Transporteurs / Assurance AgricoleminorStrategic or Co-development PartnerSENRE participated in the development of CNASS (Compagnie Nationale d'Assurance et de Réassurance des Transporteurs) for agricultural insurance with a contribution of FCFA 187,500,000.
• Maison de l'AssuranceminorStrategic or Co-development PartnerSENRE contributed FCFA 67,140,000 (representing 14.92% of social shares) to the collective project of Senegalese insurance companies to establish a Maison de l'Assurance (Insurance House) building.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Regional players

• ZEP-RE (PTA Reinsurance Company): Multilateral reinsurer serving the COMESA region in Eastern and Southern Africa. Comparable as a regionally mandated reinsurer, though it operates in a different geographic footprint than SENRE.
• Kenya Reinsurance Corporation: East African national reinsurer with comparable product offerings (treaty, facultative, retrocession) and similar shareholding structure (state + private insurers). Operates in a different regional market but is closely analogous in model and scale.

Direct peers

• Continental Reinsurance Company (Nigeria): Nigeria's leading private reinsurer operating across West and Central Africa with similar treaty and facultative offerings. Comparable in product mix and customer type (regional cedants) and represents the closest West African private-sector peer.
• Ghana Reinsurance Company: National reinsurer of Ghana operating under a similar domestic mandate and competing with SENRE for CIMA-zone facultative business. Closely analogous in business model, scale, and customer base.
• Société Centrale de Réassurance (SCR): Morocco's national reinsurer operating under a similar legal cession mandate, with CIMA-zone and pan-African ambitions. SCR is both a strategic partner (capital opening, board seat) and a directly comparable national reinsurer serving as a regional benchmark for SENRE.
• AVENI-RE: Sub-regional African reinsurer active across multiple African markets. SENRE holds a FCFA 250M participation and the two operate as comparable niche reinsurers serving cedants in overlapping geographies.
• CICA-RE: Regional reinsurer for the CIMA zone providing treaty and facultative capacity across the same regulatory perimeter in which SENRE operates. SENRE is also a shareholder, making it a directly comparable and partly aligned competitor.

Others

• Swiss Re: Global tier-1 reinsurer with long-standing African operations. Provides the global retrocession capacity that ultimately supports SENRE's larger facultative lines and serves as a benchmark for the rated-reinsurer status SENRE is pursuing.
• Munich Re: Global tier-1 reinsurer active across African markets as a retrocessionaire and direct reinsurer. Relevant as a benchmark for capacity, rating-driven access, and competitive pressure on African regional reinsurers like SENRE.

Broad incumbents

• Africa Reinsurance Corporation (AFRICA-RE): Pan-African multilateral reinsurer and the dominant continental player across CIMA and beyond. SENRE holds a stake in AFRICA-RE and shares the same cedant base across West and Central Africa, making it the most relevant broad incumbent peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Société Sénégalaise de Réassurances