Continental Reinsurance, 2014 results

It was during its last annual meeting held in Lagos that Continental Reinsurance revealed, for the first time, its 2014 results.

The gross turnover went from 15.86 billion NGN (99.4 million USD) to 16.44 billion NGN ( 90.83 million USD) in 2014, an increase in Naira to 3.64%.

Pre-tax profit was down to 2.23 billion NGN (14 million USD) in 2013, moving to 1.59 billion NGN (8.78 million USD) in 2014, a decrease in local currency of 29%. As for the profit after tax, it reached 856 million NGN ( 4.72 million USD).
Other significant indicators: the total of assets was established at 28.21 billion NGN (155.87 million USD), an increase of 8%; shareholder's equity increased by 3% to reach 14.78 billion NGN ( 81.66 million USD).

In line with its development strategy, Continental Re currently underwrites from six regional offices based in Lagos, Douala, Nairobi, Abidjan, Tunis and Gaborone.