Afre Corporation rebrands

AFRICA First ReNaissance Corporation (Afre) shareholders yesterday approved the name change of the company to First Mutual Holdings Limited, as the company posted $4 million after tax profit in the four months ending April 2013.

Report by Victoria Mutomba

Speaking at the annual general meeting, Afre chief executive officer Douglas Hoto said gross premium went up by 14% to $33,5 million from $29,4 million due growth in business written.

Net premium written was up by 19% to $29,5million.

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