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Continental Reinsurance Plc Appoints New Chairman

By Candice South
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Lagos 13 December 2016: Continental Reinsurance Plc has announced the appointment of Chief Ajibola Ogunshola as the new Chairman of the Board. The appointment took effect on November 8, 2016. He succeeds Mrs. Nadia Fettah who was recalled by C-Re Holding Ltd.

Commenting on his appointment, Chief Ogunshola said, “I am honoured to accept the Board’s appointment. Continental Reinsurance is at an exciting phase and I look forward to working with the Board and Management to build on the success that we have achieved so far. I strongly endorse the strategic vision of building Continental Reinsurance Plc to be the premier private Pan-African reinsurer.”

Chief Ogunshola holds a B.Sc. (Honours) degree in Mathematics from the University of Ibadan (1967) and became a Fellow of the Institute of Actuaries, United Kingdom in 1973, the first black African to become a Fellow of the Institute. He was the representative of the Institute of Actuaries of the United Kingdom in Nigeria from 1973 to 1996 and a member of the International Association of Actuaries.

Dr. Femi Oyetunji, Group Managing Director / CEO of Continental Reinsurance Plc said, “We are pleased with the appointment of Chief Ogunshola as Chairman. His experience and deep understanding of the industry will be instrumental in achieving our strategic objectives. Chief Ogunshola has a formidable track record and Continental Reinsurance will greatly benefit from his knowledge and vast experience.”

Over the years, Chief Ogunshola has contributed to the development of many organisations while serving in various capacities as Managing Director of Niger Insurance; Chairman of Alexander Forbes Consulting Actuaries (Nigeria), The Punch Nigeria Limited, Ajibola Ogunshola & Company (Actuaries & Employee Benefit Consultants); President of Nigeria Actuarial Society, Association of Pension Fund and Investment Managers (now Association of Pension Fund Managers), and Newspapers Proprietors’ Association of Nigeria.

Continental Reinsurance Plc is 56.6% owned by C-Re Holding Limited, a Mauritius-based investment vehicle, with the remainder being free float.

About Continental Reinsurance
Continental Reinsurance is a composite reinsurer, writing business in more than 50 countries across the African continent.

Established in 1985, and listed on the Nigerian Stock Exchange (NSE) in 2007, Continental Reinsurance 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 (CPERS) – registered in South Africa.