The leading Zambian reinsurer Klapton Re has announced that it has obtained a regulatory license to conduct reinsurance activities in China. This approval marks the entry of the African company into one of the most competitive insurance markets in the world, valued at over 100 billion yuan (approximately 14.45 billion USD).
This authorization comes just a few weeks before Klapton Re’s planned listing on the Lusaka Securities Exchange (LuSE) on March 24, 2026, subject to regulatory approval. The company will thus become the only Moody’s-rated entity listed on the Zambian stock exchange, with a Caa1 rating.
“China is a market that values credibility, discipline, speed, and long-term relationships – principles that are at the core of Klapton Re’s operations in Africa, the United States, the Middle East, and Asia,” said the company led by Kudzai Bingepinge in a statement.
Based in Lusaka, the reinsurance company – founded in 2020 – saw its revenue increase from 1 billion kwachas in 2023 to 2.9 billion kwachas (approximately 156 million USD) in 2024, controlling over 80% of market share in the local market.
Read also: Zambia: reinsurer Klapton Re expected to debut on the Lusaka Stock Exchange in March next year.
