P&C Re is a Pan-African reinsurer domiciled in Botswana and a wholly-owned subsidiary of ZB Financial Holdings. Since opening for business in July 2022 and launching in-market on 8 November 2022, the company has grown into a notable Southern African reinsurance player, building relationships, expanding its footprint, and delivering consistent performance.
In this interview feature, we share P&C Re’s journey, from set-up challenges to multi-market growth, service excellence, claims-paying credibility, and community impact.
P&C Re: Reinsuring legacies across Southern Africa and beyond.
Who Is P&C Re and When Did Operations Begin?
P&C Re is a Pan-African reinsurer domiciled in Botswana. The business opened its doors in July 2022 and was officially launched in-market on 8 November 2022. The company is a wholly-owned subsidiary of ZB Financial Holdings.
From Set-Up to Scale: The Growth Story So Far
Establishing a reinsurer, especially in a foreign jurisdiction, demands resilience, strong governance, and disciplined execution. P&C Re describes its early journey as demanding, yet formative, shaping the business into a competitive market participant.
The results have been clear: from zero revenue at inception in 2022 to revenue growth reaching just above USD 8 million in 2025, alongside consistent profitability after the first year of operations.
“When we started in July 2022, we obviously had zero revenue and over the years, our revenue grew significantly to just above USD 8 Million in 2025.”
Market Footprint: Where P&C Re Operates
P&C Re’s core trading markets include Botswana, South Africa, Zambia, Mozambique, Lesotho, Eswatini, and Malawi, while underwriting business from over 25 African countries. This breadth supports a diversified portfolio and helps the business participate in opportunities across multiple risk environments.
Core markets: Botswana, South Africa, Zambia, Mozambique, Lesotho, Eswatini, Malawi
Broader reach: Underwrites business from 25+ African countries
What’s Behind the Momentum?
P&C Re attributes success to a blend of technical capability and human connection. Reinsurance is described as “both a science and an art,” with relationship-building at the centre, supported by continuous staff training and fast turnaround on placements, claims, and customer requests.
“Reinsurance is both a science and an art and we believe, underlying our success is relationship building… We also believe in continuous training of staff as well as offering
Challenges Faced and Lessons Learned
Building a multi-market reinsurer comes with real operational complexity. One early challenge was integrating different employee and client cultures across trading markets. Over time, P&C Re reframed cultural diversity as a strategic advantage when effectively led and harnessed.
Another early hurdle was slow payment behaviour in the first year of operation. In response, the business refined its book and leaned toward brokers and cedants with stronger credit-control alignment.
Culture integration: Turning diversity into a strength through leadership
Credit control discipline: Pruning the book to align with a reliable payment culture
What Clients and Prospective Clients Should Know
P&C Re positions itself as a solutions provider offering reinsurance on both treaty and facultative bases. The business highlights its ratings across jurisdictions and emphasizes an “impeccable claims paying record” in its trading markets.
“We are there to give them reinsurance solutions on treaty and facultative basis. We have an impeccable claims paying record in all our trading markets.”
Beyond Business: Community Impact in Botswana
P&C Re’s stated mission is rooted in people. Through CSR initiatives, the company reports donations totaling BWP 70,000 to orphanages and community organisations, including Love Botswana in Maun, Cheshire Foundation, and Camphill. The company’s motto reflects this focus: “People caring for people.”
CSR donations: Total of BWP 70,000
Beneficiaries: Love Botswana (Maun), Cheshire Foundation, Camphill
Looking ahead: Additional CSR projects planned for 2026
The Road Ahead: 2026 Outlook
P&C Re says it has started 2026 “on a high note,” aiming to strengthen its position as a go-to reinsurer in Southern Africa. The business points to technical expertise, cultural diversity, efficient retrocession partnerships, and responsive turnaround as pillars of sustainability and resilience.
“We have started 2026 on a high note and we are the go to reinsurers in Southern Africa… We believe our business model is well diversified and sustainable and able to respond well to environmental shocks.”
