Continental Re, the 2009 results

The Nigerian reinsurer has published its 2009 figures. The overall gross premiums volume has amounted to 6 502 million NGN (43.8 million USD) compared to 4 035 million NGN (29.2 million USD) in 2008, that is, a 61% growth. The technical result is also on a strong rise, moving from 351 million NGN (2.54 million USD) in 2008 up to 763 million NGN (5.15 million USD) in 2009. Eventually, Continental Re has posted a net profit of 701 million NGN (4.73 million USD) versus 352 million NGN (2.5 million USD), that is, a 99% progression over one year.