Business Trends & Strategies, Insurance Industry Reports

Continental Re Grows FY Net Insurance Premium Revenue To 18.20 Billion Naira

Continental Re

insuranceadvicenigeria.com recalled that the Emerging Capital Partners (ECP), an international private equity firm focused on investing across the , along with its partners, announces the sale of Continental Re Holding Limited to Finances S.A, the insurance arm of Group.

Holding holds a 53.6% stake in Plc, the leading private reinsurance company in Africa, excluding South Africa.

Under ECP’s ownership, Continental Re has grown to become a leading pan-African reinsurer operating across the continent with a presence in Nigeria, Cameroon, Botswana, Cote d’Ivoire, Kenya and Tunisia. During its holding period, ECP and its partners supported the recapitalization of the business, strengthened the senior management team and facilitated its regional expansion to support Continental Re’s growth ambitions.

Commenting on the sale, Hurley Doddy, Co-Chief Executive Officer of ECP and outgoing Chairman of Continental Re said: “ECP’s investment in Continental Re highlights how we partner with high growth companies with proven business models and transform them into regional champions. With ECP’s support, Continental Re has grown from a primarily Nigerian focused business into a leading pan-African reinsurer, increasing its presence on the continent from two to six countries. We believe that Continental Re will leverage ’s industry expertise and relationships across the continent to further achieve its goals in Africa and create value for shareholders”

is a composite reinsurer, operating in more than 44 countries across the . It has offices in Nigeria, Kenya, Cameroon, Côte d’Ivoire, Tunisia and Botswana and is rated B+ (Good) by AM Best.

Saham Finances, the insurance arm of the Saham Group, is actively following its growth strategy in Africa and the Middle East. It is present in 24 countries through 49 subsidiaries, including 28 insurance and reinsurance companies through 650 branches throughout Africa.

 

Click here for CONTINENTAL RE AUDITED DEC. 2015 FINANCIAL STATEMENTS APRIL_2016.pdf

 

 

 

 

Source: naija247news

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