Zambia-based reinsurer Klapton Re will list directly on the Lusaka Stock Exchange (LuSE) on March 24, 2026, subject to regulatory approvals, reaffirming the reinsurer’s continued growth and the increasing maturity and resilience of Zambia’s financial markets.
Founded in 2020, Klapton Re provides ad hoc and treaty reinsurance services in Africa, Asia and the United States. The reinsurer has an estimated 86% market share in Zambia.
The company is the only Moody’s rated company listed on the LuSE with a Caa1 rating and its revenue will increase from K1 billion in 2023 to K2.9 billion in 2024.
The announcement follows a pre-listing bell-ringing ceremony attended by investors, advisers and key stakeholders who have supported the company over the past five years.
Unlike a traditional IPO, Klapton Re’s direct listing allows investors to purchase shares directly on the first day of trading without the need for an initial offering period or prospectus.
Industry observers note that Klapton Re’s direct listing comes amid renewed global interest in the reinsurance market, with increasing demand for rigorous underwriting and innovative risk management solutions.
Kudzai Bingepinge, Chief Executive Officer (CEO) and Chief Executive Officer of Klapton Re, commented: “We are listing to broaden our investor base and attract long-term capital consistent with the next phase of Klapton Re’s growth. After five years of rigorous underwriting and balance sheet building, the local listing is a carefully considered step.
“It strengthens our commitment to Zambia while providing investors with access to a diversified reinsurance portfolio in the United States, Asia and Africa, thereby increasing earnings visibility and quality. In line with our mission, Africa Underwriting World, we deploy African capital into global risks with a clear focus on discipline and sustainability.”
He continued: “Our growth is driven by portfolio building and risk discipline, not just scale. It demonstrates that African institutions can build financial franchises with global reach and achieve durable and predictable returns. Our growth story is more than just numbers, it is proof that Africa can build world-class financial institutions that can compete globally.”
LuSE CEO Nicholas Kabaso added: “LuSE will continue to work closely with Klapton and market stakeholders to ensure the listing process is completed efficiently and in line with best practice.
“This announcement is more than just a listing, it signals confidence in corporate institutions like Klapton Re, the reforms underway and the future of Zambia’s capital markets. It shows that Zambia can build credible, resilient and forward-looking markets.”
