In line with the company’s drive to spread its network across the globe, Continental Reinsurance has opened a regional office in Nairobi, Kenya.
Adeyemo Adejumo. Managing director, Continental Re, told the magazine that, “with the recent recapitalization of the Nigerian insurance industry, Continental Re has increased its capacity. With our experience in Cameroun, we believe we can serve our clients better if we are close to them, hence the need to open East Africa regional office.”
On further expansion done by the company, the company’s group chief executive disclosed that the new regional office will cover Kenya, Ethiopia, Tanzania and Uganda and will also oversee Sudan, Malawi, Zambia and other neighboring countries.
He also confirmed that other plans are in the pipeline to grow the company to meet the expectations of stakeholders. For instance, the company just invested in some residential developments in Ikoyi, Lagos, which will boost investment income despite the fact that the proceeds of recapitalization in escrow account of the central bank are yet to be released.
Continental Re is also aggressively pursuing head office building, as well as computerization of the company.
