Continental Reinsurance posts 13% rise in gross premium for 2016

Sakiru Oyefeso

Continental Reinsurance plc in its financial report recorded gross premium income of NGN22.4 billion for Q4 2016 compared to NGN19.7 billion recorded same period 2015.

The result represents 13% rise in profit on a year on year comparison.

Insurance premium revenue grew to NGN25.3 billion compared to NGN20.6 billion it started with same period 2015.

Continental reinsurance said it profit for the year was NGN4.6 billion against NGN2.9 million recorded same period 2015. After all its deductions and expenses, it recorded NGN3.1 million as profit for the year in contrast to NGN2.1 million recorded in the financial year 2015.

The company acquired total assets of NGN40.2 billion in third quarter 2016 compared to NGN29.6 billion acquired same period 2015. It recorded total liabilities of NGN20.5 billion in 2016 compared to NGN14.1 billion recorded same period 2015.

Company information

Continental Reinsurance is a world class Pan-African service reinsurer offering a full suite of non-life and life reinsurance products.

The company has been the torch bearer of the African Reinsurance sector for the past 25 years, operating in 43 African countries, and has been listed on the Nigerian Stock Exchange since 2007.

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