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Continental Re: excellent results for the Q1 of 2020

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Magazine Issue: 
2020, the year of COVID-19 [3]
Magazine date: 
May 2020

Continental ReDespite an economic situation troubled by the COVID-19 pandemic, Continental Re recorded a 29% increase in gross premiums in 1Q 2020 reaching 11.6 billion NGN (29.7 million USD).

The pre-tax result increased by 446% to reach 2.479 billion NGN (6.589 million USD). As for the technical result, which rose by 622%, it increased from 217 million NGN (600 000 USD) on 31 March 2019 to 1.565 billion NGN (4.146 million USD) 12 months later.

These results are the fruit of a good insurance underwriting and cost management policy. However, claims reported during the first three months of 2020 are up by 14% to reach 4.675 billion NGN (12.427 million USD).

Read also | Deadline extension of capital increase for Nigerian insurers [4]

Tue, 26/05/2020 - 11:13

Source URL: https://www.atlas-mag.net/en/article/continental-re-excellent-results-for-the-q1-of-2020

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[3] https://www.atlas-mag.net/en/issue/2020-the-year-of-covid-19
[4] https://www.atlas-mag.net/en/article/deadline-extension-of-capital-increase-for-nigerian-insurers