CONTINENTAL REINSURANCE PLC

CONTINENTAL REINSURANCE PLC

 

Audited result for the year ended 31st December 2008 shows Gross Premium of N373.8 million as against N530.6 million in 2007. Profit after tax stood at N473.32 million compared with N676.7 million in 2007. The Board of Directors explained that the provision for doubtful balances increased by 473% from N198.8 million in 2007 to N1,138.7 million in 2008, which contributed significantly to the 30percent drop in profit after tax. Consequently, they are recommending a dividend of N0.05 per share. The date of closure of register of members is June 1, 2009 while payment date is June 29, 2009. The 22nd Annual General Meeting is scheduled to hold at Victoria Crown Plaza, 292B, Ajose Adeogun Street, Victoria Island, Lagos on Thursday, June 4, 2009 by 11.00a.m.


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