Emeritus Reinsurance (Zimbabwe)
Emeritus Reinsurance, formerly Baobab Reinsurance was established in 1983 as a Greenfield investment and as a public corporation through an Act of Parliament, the Zimbabwe Reinsurance Act and then named Zimbabwe Reinsurance Corporation, through an Act of Parliament (The Zimbabwe Reinsurance Corporation Act Chapter24:17) and started transacting reinsurance business in 1984 in Zimbabwe. Through Legal cessions & commercial trading, the corporation grew into a diversified group with investments in Reinsurance, Reassurance, insurance, property, insurance broking, reinsurance broking both locally and regionally.
In 1999 Zimbabwe Reinsurance Corporation was commercialized and subsequently privatized by the end of that year and ZimRe was listed on the Zimbabwe Stock Exchange on 22 November of the same year. The Group in 2002 was restructured through the unbundling into strategic business units and establishing highly focused and sector-specific operations. The demerger of the reinsurance operations from the Head Office was implemented in January 2003 from which ZimRe Reinsurance Private Limited (the Group’s reinsurance flagship) was borne to drive the reinsurance growth strategy. In 2007, ZimRe Life and Health which was initially formed as a division of the company in 1995 and the first domestic reassurance operation was fully separated and registered as a fully-fledged Company in compliance with regulatory provisions and remains the leading reassurer in Zimbabwe.
In 2008 ZimRe Reinsurance Private Limited then rebranded to Baobab Reinsurance Private Limited and the new brand continued to gain brand equity and resilience in both the domestic and regional markets bringing with it financial security, strength and vast experience
Pursuant to the rebranding to Emeritus Re, Baobab Reinsurance consolidated its Reinsurance and Life and Health Company and was registered under a composite license in 2017.
