ZEP RE and ITOO launch Reinsurance JV to expand specialist insurance capacity across East and Southern Africa

ZEP-RE and iTOO Special Risks have announced a landmark joint venture to expand access to specialty and emerging risk insurance products across East and Southern Africa.

The partnership brings together iTOO’s technical expertise and ZEP-RE’s extensive regional footprint to build a sustainable, locally rooted specialist reinsurance risk ecosystem across eight priority markets. The focus is Kenya, Uganda, Tanzania, Rwanda, Ethiopia, Zambia, the Democratic Republic of Congo and Zimbabwe, countries where demand for specialist cover is rising.

Dale Sutton-Pryce, Managing Executive - Partnerships and International, iTOO Special Risks, describes the partnership as “a pivotal step in reshaping how specialty risks are underwritten across the continent”.

“For too long, African insurers have had to rely on external markets to access specialty products and insurance/reinsurance capacity. In many of these markets, specialty liability is growing. Without the right skills, tools and capacity, insurers have had no choice but to decline these risks or reinsure them offshore. This partnership changes that. It keeps risk on the continent, builds local capability and enables African insurers to compete in these emerging classes,” Sutton-Pryce explains.

The JV will introduce a suite of specialty products tailored to local market needs, including professional indemnity, broadform liability, financial lines, medical malpractice, cyber liability, renewable energy, political violence and terrorism and specie. Each product will be adapted to the regulatory and commercial realities of individual markets.

“Our philosophy is simple – local is best. Specialty insurance cannot be built from a distance. It requires people on the ground who understand the market, the regulatory environment and the nuances of each country. That is why this JV includes a dedicated regional presence whose sole focus is to tailor and adapt our solutions for each market,” says Marc Lovatt, Head of Strategy and Operations, ITOO Africa.

According to Jephita Gwatipedza, ZEP-RE’s Deputy Group Chief Executive & Chief Operating Officer, the partnership will also leverage ZEP-RE’s strong regulatory relationships to support broader market development. Many countries in the region lack compulsory insurance requirements for professions such as law, medicine or environmental risk; factors that have historically limited uptake.

“The partnership is about growing together. ZEP-RE is a highly respected African reinsurer with deep roots across the region. We have worked with them for many years and share a strong cultural alignment. By combining their regional insight with our expertise, we are creating a platform that can meaningfully transform the specialty insurance landscape in Africa,” says Lovatt.

“Over and above our ambitious growth aspirations, it’s also about building skills, transferring knowledge and creating long term capacity in markets that have historically been underserved. If we can help develop specialty insurance in Africa, the impact will be felt far beyond the insurance sector. It will support professionals, businesses, infrastructure projects and entire economies,” Sutton-Pryce concludes.

Ultimately, the partnership aims to strengthen resilience, supports economic growth and reduce reliance on offshore markets. The joint venture will begin a phased rollout from Q2 2026.