“Consistent with Continental Reinsurance’s dividend policy and commitment to shareholder returns, the board has decided to maintain the same level of dividends as the year before. The Board of Directors, therefore, recommends a cash dividend of 14 kobo per share for the year under review, subject to your approval. ” It is through this statement that Continental Reinsurance Chairman of the Board Chief Ajibola Ogunshola praised the group’s performance.
Continental Re, which is one of Africa’s leading reinsurance groups, posted gross revenues of 29.6 billion naira (82.33 million US dollars) in 2017, compared with 22.4 billion naira (62.3 million US dollars). dollars) in 2016, an increase of 32%. In its report, the group claims to have contributed $ 20.3 billion ($ 56.46 million) to the group’s premium of 68%, while subsidiaries contributed 9.2 billion naira (25%). $ 59 million), or 32%.
The report indicates that the gross premium issued by the Pan-African reinsurer increased by 17%, from 17.3 billion naira in 2016 to 20.3 billion naira in 2017 and the contribution of subsidiaries increased by 82% from 5 , 1 billion nairas in 2016 to 9.3 billion nairas in 2017.
In addition, the group’s technical profit, based in Lagos, grew by 213%, from 414 million naira in 2016 to 1.3 billion in 2017, while pre-tax profit decreased in 2016 to 3.35 billion in 2016. 2017.
Ajibola Ogunshola indicates that “47% of the business comes from English-speaking West Africa; 21% from East Africa; 11% of southern Africa; The remaining 21% is shared between the other three regions of Africa.
