Lagos, Nigeria – December 12, 2024: Continental Reinsurance Plc, is pleased to announce that AM Best has affirmed its Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-“, both with a stable outlook.
Mr. Lawrence Nazare, Group Managing Director, commented:
“We have successfully maintained our rating (B+, stable outlook) despite operating in a particularly challenging environment characterized by elevated levels of economic, political, and financial system risks in African markets. External factors, including high foreign exchange volatility and an increase in catastrophic events, have further impacted the environment. However, AM Best highlighted, as positive offsetting factors, our progress in capital management and improvements in the geographical diversification of our operations and assets. The rating agency expects us to continue aligning our growth with available capital and underwriting capabilities while further enhancing our operating performance.”
For more information about the rating CLICK HERE
