Continental Reinsurance plc said it is converting its regional office in Cameroon into a full-fledged subsidiary.
The company is proposing that its regional office in cote D’ivoire will become a branch office of the former.
The company said in a statement that:
“The Nigerian Stock Exchange is hereby notified that in compliance with the new CIMA Code in the Francophone Region which under Article 802 requires a reinsurance company based in a member State to be established as a limited liability company and under Article 804 permits a reinsurance company with its head office in a member State to install a branch in another member State, Continental Reinsurance Plc’s Regional Office in Douala, Cameroon will now be operated as a subsidiary company while the Regional Office in Abidjan, Cote D’ivoire will be converted to a Branch office of the subsidiary company. The National Insurance Commission (NAICOM) has given approval for the operation of the office as a subsidiary”.
Continental Reinsurance is the private sector champion of the pan-African reinsurance industry. Engaged in the life and non-life reinsurance business across the continent.
With a history spanning more than 30 years, they have developed an extensive network across Africa in order to serve our clients. Everything we do is underpinned by the translation of our pan-African track record and commitment into local value.With a vision is to be the premier pan-African reinsurer, and our mission to provide credible reinsurance security and services to our clients and sustainable value to our shareholders and other stakeholders.