CONTINSURE Registers New Subsidiary Company in South Africa

Proshare

Tuesday, April 21, 2015 1.43Pm/NSE


Continental Reinsurance Plc has notified The Nigerian Stock Exchange that it has registered a subsidiary company known as Continental Property and Engineering Risk Services Proprietary Limited in South Africa. The new company for the time being is a wholly owned subsidiary of Continental Reinsurance Plc.

The company will provide risk services and underwriting support for the following lines of property and engineering business:

• Commercial fire assets, all risks material damage and loss of profits;

• Contractor’s all risks;

• Erection all risks;

• Contractor’s plant and machinery;

• Civil engineering completed risks;

• Machinery;

• Electronic equipment;

• Deterioration of stock;

• Machinery loss of profits;

•Principal’s advanced project;

• Comprehensive project; and

• Comprehensive machinery.

 

The new company was established to meet the growing demand for specialist engineering insurance risk advisory services that is currently driven by Africa’s infrastructure and construction boom.

 

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