Continental reinsurance maintains strong financial ratings amid economic challenges

Continental Reinsurance, a leading pan-African reinsurer, has once again demonstrated resilience by maintaining a B+ financial strength rating and a “bbb-” long-term issuer credit rating, with a stable outlook from AM Best, a globally recognized credit rating agency.

The reaffirmed rating underscores Continental Re’s ability to navigate complex economic and political conditions prevalent in African markets, alongside external pressures such as foreign exchange volatility and increased catastrophic events.

Group Managing Director, Mr. Lawrence Nazare, highlighted the company’s proactive approach in the face of these challenges. “We have successfully maintained our rating (B+, stable outlook) despite operating in a particularly challenging environment characterised 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.”

Founded in 1985, Continental Reinsurance provides life and non-life reinsurance solutions across more than 50 African countries.

————

For Advertisement, Event Coverage/MC, Public Relations, Story/Article Publication, and other Media Services, kindly send an email to: cablenews24.com@gmail.com.

Or Kindly call: 08023535955

To stay updated with the latest news stories, kindly visit cablenews24.com… published by AAAANDREL GLOBAL SERVICES.