Who We Are
We are a composite reinsurer offering capacity and services across the full spectrum of Non-Life and Life business lines.
Our mission and vision
Our vision is to be the premier
With a history spanning more than 30 years, we have developed an extensive network across Africa in order to serve our clients. Everything we do is underpinned by the translation of our pan-African track record and commitment into local value.
It is our mission to provide credible reinsurance security and services to our clients and sustainable value to our shareholders and other stakeholders.
A journey through our history
Incorporated in Nigeria in 1985, Continental Reinsurance started business initially as a private reinsurance company. From January 1987, we began operating as a general reinsurer and in January 1990, we became a composite reinsurer, offering both treaty and facultative life and non-life reinsurance, with a well-diversified business mix and customer base.
As part of our overall goal to become the recognised leading reinsurance company in Africa, we converted to a public limited liability company in 2000. We recapitalised to NGN 10 billion in 2007, with widespread ownership which includes international investors. On May 30, 2007, Continental Reinsurance was listed on the Nigerian Stock Exchange.
In 2019 the Company obtained the approval of its shareholders and the regulators to undertake a Scheme of Arrangement for the purpose of restructuring its business. The objective of the restructuring is to enhance the growth of the business, reposition the Company for enhanced competitiveness and provide for a sustainable increase in profitability. The successful implementation of the Scheme culminated in the 100% acquisition of the shares of the Company by its parent company in Mauritius, CRe African Investment Limited and the delisting of the shares of the Company from the Nigerian Stock Exchange.
We continue to operate as an international company managed by seasoned professionals, complying with international standards in all our business dealings.
Launched non-life business
Launched life business
Opened regional office in Douala, Cameroon
Recapitalized from NGN2b (US$13m) to NGN10b (US$70m)
Listed on the Nigerian Stock Exchange
Opened regional office in Nairobi, Kenya
Launched fully licensed subsidiary Continental Re Ltd in Nairobi, Kenya
Opened regional office in Abidjan, Côte d’Ivoire
Opened regional office in Tunis, Tunisia (April)
Opened a subsidiary in Gaborone, Botswana (August)
Registered a specialist subsidiary, Continental Property and Engineering Risk Services (CPERS)
Launched the pan-African (re)insurance journalism awards
Incorporated a subsidiary in the CIMA region
Continental Reinsurance Cameroun SA to cover Francophone West and Central Africa operations.
Created a holding company
‘CRe Africa Investments Limited’ (CRe Mauritius) - culminating to 100% acquisition of the shares of the Company by the holding company and the delisting of the shares of the Company from the Nigerian Stock Exchange.
Our values and behaviours
At Continental Reinsurance, we are guided and bound by the values and behaviours that have shaped our organisation over the last 30 years:
What makes us different?
The virtuous circle.
Our pan-African commitment is the purpose that motivates our expansion. By focusing on localisation we develop regional markets, which in turn allows us to deliver on our promises.
This is why Continental Re is the true champion of the industry – it’s about vision and action working together in perfect harmony.
We are the private sector champions of the pan-African reinsurance industry.
We are truly pan-African.
Since starting operations in Nigeria over thirty years ago, we have made it our priority to develop an extensive network of offices to reach our clients across Africa. With offices in Nigeria, Cameroon, Côte d’Ivoire, Tunisia, Kenya and Botswana, we pride ourselves on being the torchbearer of the African reinsurance sector.
We deliver on value.
We are defined by excellence.
With a strong balance sheet and capital base, complemented by a peerless service culture, unrivalled in-house actuarial expertise, a strict Enterprise Risk Management (ERM) framework, and an experienced specialty in Property & Engineering as well as Agriculture and Bonds & Guarantees, we distinguish ourselves by pursuing excellence in all areas of our operations.
We are committed to leadership by example.
In October 2012, we were the first African reinsurance company (outside South Africa) to become a signatory to the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Sustainable Insurance (PSI). We are pleased to be part of this initiative as it demonstrates our commitment to accountability, and transparency in managing environmental, social and governance issues throughout our business.