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:
- Contractor’s all risks
- Commercial fire assets, all risks material damage and loss of profits
- Erection all risks; ï‚·
- Contractor’s plant and machinery; 
- Civil engineering completed risks; ï‚·
- Machinery; ï‚·
- Electronic equipment; ï‚·
- Deterioration of stock; ï‚·
- Machinery loss of profits; ï‚·
- Principal’s advanced project; 
- Comprehensive project; and ï‚·
- 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.
Impressive. so setting up shop in South Africa helps Nigeria How exactly..
Our risk Management portfolio keeps growing at a very slow pace and these actions can not help build capacity