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CONTINSURE Plc Confirms the Registration of Subsidiary Company in Douala, Cameroon

Proshare

Wednesday, May 17, 2017 10:45AM/NSE

The Nigerian Stock Exchange is hereby notified that in compliance with the new CIMA Code in the Franscophone Region which under Article 802 requires a reinsurance company based in a member State to be established as a limited liability company and under Article 804 permits a reinsurance company with its head office in a member state to install a branch in another member state, Continental Reinsurance Plc’s Regional Office in Douala, Cameroon will now be operated as a subsidiary accompany while the Regional Office in Abidjan, Cote D’ivore will be converted to a Branch office of the subsidiary company.


The National Insurance Commission (NAICOM) has given approval for the operation of the office as a subsidiary
.

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