Continental Re: 2023 results

Continental Re has published its financial results for the year 2023, in accordance with the new IFRS 17 accounting standards.

As at 31 December 2023, reinsurance revenue reached 112.46 billion NGN (125.4 million USD), up (in original currency) by 30% on the 83.36 billion NGN (186 million USD) recorded in 2022.

Earnings from reinsurance services climbed by 108% to 9.14 billion NGN (10.2 million USD).

The Nigerian reinsurer's net profit of 17.09 billion NGN (19.1 million USD) is 206% higher than the 5.573 billion NGN (12.4 million USD) posted a year earlier.