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Apr 2015 Continental Re opens a reinsurance subsidiary in South Africa. Called Continental Property and Engineering Risk Services, this new structure fully owned by Continental Re, will underwrite in property and engineering classes of business.
What will particularly be targeted are commercial fire; construction; contractor's all risks, machinery breakdown and loss of profits after fire and machinery breakdown.
This transaction is part of the strategic development plan of the Pan African reinsurer. It comes after the creation of the offices in Tunis (Tunisia), Nairobi (Kenya), Douala (Cameroon) and Gaborone (Botswana).