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Chuks Udo Okonta
Continental Reinsurance Plc has been named as the 2022 award winner for Most Innovative Reinsurer by Capital Finance International (CFI.co).
From its Nigerian roots, Continental Reinsurance has evolved over the past three decades into a truly pan-African player, Capital Finance International, said.
It noted that since its launch in 1985, the company has become one of the few African reinsurers with the resources and skills to challenge the multinationals operating on the continent.
The history of Continental Reinsurance, it said is marked by strong corporate governance and international best practices and always with a key focus on innovation, adding that the reinsurer’s commitment to above-board operational standards has proven fundamental in attracting capital from international investors, including some prominent names from South Africa and America. Continental Reinsurance has earned the trust of its clients as well as the market.
“It is benchmarked against the highest international standards and has achieved the “AM Best” rating for 13 years. The reinsurer has an AM Best Financial Security Rating of B+, and a Long-Term Issuer Credit rating of BBB-, which is a couple of notches above the Sovereign rating of Nigeria. Continental Reinsurance credits its success to the calibre of its people, who bring unmatched experience and strength to the team.
“Together, they have built a formidable entity with a diverse portfolio and far-reaching ambitions. It has six offices and several specialist subsidiaries located across the continent,” it submitted.
It maintained that the portfolio spans more than 50 countries and features a mix of relevant product focus areas, including large Commercial, Industrial, Engineering, Energy and other property installations, infrastructure development, and Agriculture, to support Africa’s food security.
The company leads by example on ESG issues and strives to deliver sustainable value to shareholders and stakeholders alike, it posited.
The CFI.co judging panel announced Continental Reinsurance Plc as the 2022 award winner for Most Innovative Reinsurer (Africa).
Capital Finance International (CFI.co)
is a print journal and online resource reporting on business, economics and finance, recognises that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge. Headquartered in London, the world’s most multicultural city, CFI.co brings you coverage and analysis of the drivers behind change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world’s top minds, our dedicated editorial team ensure that readers better understand the forces influencing and reshaping the global economy.
CFI.co provides news, analysis and commentary on markets worldwide. We address the changes – including in technology and innovation – affecting these markets and help identify regions, industry sectors and companies that will succeed.