WINDHOEK - State-owned Namibia National Reinsurance Corporation (NamibRe) paid a N$1,36 million dividend to the government recently.

Namibre provides reinsurance services to the local insurance market. It was created with the specific purpose of minimising the placement of insurance and reinsurance business outside the borders of Namibia.

For the 2010/11 financial year NamibRe generated a profit of N$15,1 million - of which N$9,6 million went to the construction of its headquarters.

The company said it posted healthy growth and positive results in that particular financial year, which shows NamibRe’s continuous growth in the underwriting of Namibian business and spreading operations to other markets within southern and eastern Africa.