Pula Re is a specialist reinsurer focused on emerging markets, with a global reach supporting the growth, stability, and resilience in communities primarily in Africa, Asia and Latin America.
Pula Re leverages innovative insurance and AI solutions to build financial security and sustainable development across these regions. Pula Re is owned by Pula AG, headquartered in Switzerland, who are a pioneer in Parametric Insurance and Disaster Risk Financing in emerging economies in Africa and Asia.
Pula Reinsurance Limited (Pula Re), launched in November 2024, is a licensed reinsurer in Bermuda and regulated by the Bermuda Monetary Authority (BMA).
At Pula Re, we bring specialist expertise across multiple reinsurance lines, delivering innovative risk solutions and actionable insights through collaborative, long term partnerships. We provide the stability and knowledge our clients depend on to navigate the evolving and complex risk landscape of emerging markets.
As a trusted partner, we help clients address dynamic risks by crafting tailored, value creating solutions that support the development of innovative and profitable opportunities. Our focused lines of business highlight our deep underwriting expertise, enabling us to fully understand risks and develop bespoke solutions that fit client needs.
Our approach combines data-driven insights, deep sector knowledge, and intuition to guide decision-making. Our committed team is dedicated to leaving no stone unturned in delivering on our commitments and driving impact across the regions we serve.
Pula Re is a forward-thinking reinsurer that collaborates with local insurers and global partners to address market gaps and scale insurance access that protects livelihoods and promotes economic development in emerging markets.
At Pula Re, our commitment to sustainability is at the core of what we do. We leverage innovative reinsurance solutions to promote environmental stewardship, social responsibility, and robust governance, fostering long term resilience and positive impact in the emerging markets we serve.
Promoting sustainable practices through innovative insurance solutions that protect our planet.
Creating positive social impact through inclusive insurance access and community development.
Maintaining the highest standards of corporate governance and regulatory compliance.
We are building a future
We are committed to accelerating claims settlement with a 48-hour target turnaround, wherever possible, while delivering exceptional client value through technology. Our strategy focuses on creating efficiency across the insurance value chain, adapting to the New Reality, and managing capital effectively. With uncompromising standards in governance, compliance, and information security, we aim to lead the market through product innovation and the development of a high-performing, diverse, and intellectually curious team.
To be the leading AI-native reinsurance partner for emerging economies, delivering transparent, sustainable, impact-driven, and agile risk solutions that help our clients build resilience and enhance adaptability in a fast-evolving global landscape.
Accelerate claims settlement with a target turnaround time of 48 hours, wherever possible.
Deliver client value through application of AI and digital process.
Enhance efficiency across the insurance value chain, adapting to the New Reality and enabling smarter capital management.
Uphold uncompromising standards in corporate governance, risk management, regulatory compliance, and information security.
Establishing thought leadership in the market through product innovation.
Build a high-performing team, nurturing diverse young talent driven by intellectual curiosity.
Chairman
Lesley Ndlovu is an experienced financial services executive with a global career spanning banking, investment management, and insurance. He has served as the CEO of African Risk Capacity where he oversees the provision of parametric insurance across 39 African countries. Lesley previously held senior roles with AXA Group in London, Paris and Singapore, including CEO of a Lloyd's syndicate and Chief Investment Officer of AXA Singapore.
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Resident Director
Victoria Cunningham brings over two decades of experience in reinsurance underwriting. She is currently the Executive Director of the Bermuda Foundation for Insurance Studies (BFIS), where she leads efforts to develop the next generation of insurance professionals. Victoria also serves as the Opposition Senator in the Government of Bermuda acting as a spokesperson for Education, Health, Legal Affairs and the Cabinet Office/ Digital Innovation. Her cross-sector leadership reflects a long-standing commitment to advancing impactful public policy.
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Director
Thomas Njeru is currently the Group CEO and Co-Founder of Pula AG. Thomas is a seasoned insurance professional, entrepreneur and actuary who is passionate about bringing different approaches to insurance solutions in emerging markets. He was listed in New York Times as a Global 2019 Visionary and Time 100 Next in 2024. Since co-founding Pula in 2017, Thomas has driven its growth to provide insurance to over 20m beneficiaries across Africa, Asia and Latin America. Previously, Thomas was the Insurance Director in Deloitte East Africa and served as the Chief Actuary at UAP-Old Mutual Insurance Group, East Africa.
Thomas is a Fellow of the Institute of Actuaries (FIA) and holds a Masters' in Business Administration and a Bsc. Actuarial Science (First Class). Besides solving the insurance related challenges in emerging markets, his other interests include running, travelling, economic development, philosophy and chess.
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Director
Sarfraz Shah is a seasoned insurance executive with over 19 years of diverse experience in agriculture and microinsurance across Asian and African markets. He is a Fellow of the Insurance Institute of India, holds an MBA, and is also a Fellow of the ILO's Impact Insurance Facility, based in Geneva. As a Director, Sarfraz brings a strong track record of financial leadership and strategic insight. He has held key roles at organizations including Pula Advisors AG, APA Insurance (Kenya), the ILO's Impact Insurance Facility (Switzerland), and IFFCO-TOKIO General Insurance (India). His expertise lies in developing innovative insurance solutions for low-income households, with a particular focus on agriculture and risk mitigation.
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Lawrence Wacira Njore is a seasoned professional in the reinsurance industry with over 17 years of experience in reinsurance. He has held the position of Regional Director at Sca Inter A Reinsurance Brokers and is currently Vice President for Sub-Saharan Africa at Apex Reinsurance Brokers. He has also served as Reinsurance Broking Manager at Afro Asian Reinsurance Brokers and held positions at Kenya Orient Insurance Limited and Mayfair Insurance. He holds a Bachelor's degree in Human Resources Management from Makerere University, Uganda. Expertise: Reinsurance, Underwriting, and General Insurance.
Irshad Choolun is a Fellow of the Chartered Insurance Institute (UK) and an Associate in Reinsurance (USA), with nearly 15 years of technical, managerial, and leadership experience in the reinsurance industry across Africa, the Middle East, and the Indian subcontinent. He most recently headed Reinsurance and Special Risks at SICOM General Insurance Ltd, a member of the SICOM Group Mauritius and Indian Ocean region, and also serves as a Council Member and Chair of the Education Committee at the Insurance Institute of Mauritius.
A seasoned Actuarial professional specializing in Agriculture, Parametric and Emerging insurance solutions. With a strong background in product development, actuarial pricing, and loss/claim assessment, he brings innovative and data-driven solutions to emerging and underserved insurance markets. Expertise: Product Development, Actuarial Pricing, Reinsurance.
At Pula Re, we provide comprehensive reinsurance coverage across all major lines of general insurance. Leveraging on technical expertise, we deliver tailored solutions that address the unique needs of clients in emerging markets. We provide both facultative and treaty reinsurance solutions, tailored to meet the unique risk profiles and business objectives of our clients across various lines of business.
Property and casualty insurance protects businesses and individuals against losses related to their physical assets and legal liabilities. It covers risks such as property damage from fire, theft or natural disasters, as well as liability for accidents or injuries that occur on insured premises. We provide innovative reinsurance solutions tailored to emerging markets, helping insurers offer reliable protection that supports economic growth and resilience. Our expertise in property and casualty insurance enables us to design products that manage risks effectively, ensuring stability and confidence for clients across Africa.
As part of our diversified reinsurance portfolio, we offer parametric insurance designed to deliver fast, transparent payouts based on objective triggers such as rainfall indices, yield indices, tropical cyclones, or other measurable events. This product is designed to deliver quick financial support exactly when it is needed, helping to stabilize operations and aid recovery faster. With transparent, predefined triggers and payout amounts, parametric insurance brings certainty, flexibility, and speed to managing natural catastrophe and weather-related risks.
We provide innovative solutions for financial lines, cyber risk, energy, political violence and terrorism, collaborating with clients and brokers to manage volatility. We aim to support clients in navigating the complex nature of these risks by providing products that mitigate increasing loss frequency, volatility, and systemic risk globally. Our underwriting prioritizes relevant and sustainable outcomes, promoting and enhancing resilience in the evolving threat landscape.
Our aviation reinsurance product offers comprehensive coverage for aircraft hulls, operator liabilities, and other aviation-related risks. Whether protecting against physical damage to aircraft or liability exposures related to passengers and third parties, this product supports a broad spectrum of aviation activities, including commercial airlines, business jets, and aerospace operations.
We provide targeted reinsurance solutions for marine risks in two key areas:
Hull: Protection against damage or loss to vessels during navigation, docking, or other maritime operations.
Cargo: Coverage for goods in transit, safeguarding against damage, theft, or loss as cargo travels by sea, air, or land.
As the global economy undergoes industrial and technological transformation, new and evolving risks are emerging. Through our Transition class, we offer portfolio-wide (re)insurance solutions, ranging from technology performance insurance to carbon insurance products for risks located across emerging markets.
We support our clients' evolving needs throughout the full spectrum of credit risks, from conventional credit (single-name, whole turnover, Export Credit Agencies), political risk, and surety products to cutting-edge solutions. We provide solutions suitable for global businesses, emphasizing long-term, sustainable partnerships with both clients and brokers, across both proportional and non-proportional structures.
With our underwriting expertise, advanced analytics, innovative approach, and integration of AI, we offer reinsurance that’s not only secure, but also responsive and relevant.
We underwrite across carefully selected lines of business where we hold technical expertise and market insight.
Our approach is analytical and shaped by experience, and a clear understanding of evolving risk.
Our underwriting team brings together actuarial discipline, regional market knowledge, and adaptive execution.
We offer strategic partnership, innovative products, and long term alignment.
We also focus on the captive business of improving livelihoods for smallholder farmers, who are often excluded from traditional insurance.
Our clients are supported by a skilled team of claims specialists who provide clarity and confidence. We deliver a service that is efficient, transparent, and personal, ensuring fair and timely outcomes with minimal disruption.
We understand that every claim is a critical moment, which is why we handle each one with both sensitivity and urgency. Our commitment to long term partnerships is reflected in our consistency and accountability.
We believe the most effective risk solutions are built together. Whether you are an insurer, intermediary, government agency, or development organisation, we work alongside you to design reinsurance structures that are practical, data-driven, and tailored to your context.
Bermuda
Power House
7 Par-La-Ville Road
Hamilton, Bermuda