Continental Re gets NSE nod on dividend payment

Continental Reinsurance Plc has been commended as one of the best companies in the underwriting industry, doing well on the Nigerian Stock Exchange, and consistent in paying dividends to its shareholders.

The commendation was given when the Group Managing Director, Continental Re, Dr. Femi Oyetunji, led a delegation of the company’s management to ring the bell at the closing gong ceremony on the NSE in Lagos. The event was also part of activities to mark Continental Re’s 30th anniversary.

The Executive Director, Market Operations and Technology, NSE, Ade Bajomo, said the Exchange was delighted to have Continental Re as one of the companies to ring the bell on the NSE.

Oyetunji said the company had a good interaction with the management of the NSE, on how far it had moved since it got listed on the NSE, noting that since its listing, the company had continued to create wealth for its shareholders by paying them dividends every year.

“We have been listed on the Stock Exchange since 2007; we have consistently paid dividend over the years; and we have put things in place to ensure that we continue to do so,” he said.

Oyetunji noted that over the years, Continental Re had grown to become the largest privately-owned reinsurance company in Africa, with offices across all the regions to serve its clients.

According to Continental Re, the firm is a composite reinsurer, writing business in more than 50 countries across the African continent. Established in 1985, Continental Re provides support to over 200 insurance companies in Africa with its main offices in Nigeria, Cameroon, Kenya, Côte d’Ivoire, Tunisia and Botswana. It also has a specialist subsidiary – Continental Property and Engineering Risk Services – registered in South Africa.

Continental Re is rated B+ (good) by AM Best, London, the world authoritative insurance company. The rating affirms the ability of the company to meet its ongoing obligations.