UK regulators authorise first African reinsurer

The Prudential Regulation Authority and Financial Conduct Authority
have authorised One Re, the first reinsurer to focus solely on
African risks, to operate in the UK.
The London-based carrier, backed by $50mn of start-up capital,
will exclusively reinsure risks emanating from Africa.
The capital was provided by two brothers, Andrew and Robert
Lewis, who formerly owned African primary carrier Global Alliance,
part of which was sold to Barclays.
Initial stamp capacity will be $25mn and the carrie