Continental Reinsurance Plc Registration of Subsidiary Company
Category: Investors NewsBeat
July 17, 2012
The company has notified The Exchange that it’s Regional Office in Nairobi has now been registered as a subsidiary of Continental Reinsurance Plc in compliance with the Kenyan Regulatory requirements. The company will operate and be known as Continental Reinsurance Limited.
Continental Reinsurance Plc owns 65% of the shares of the new company. With the new subsidiary, Continental Reinsurance Plc will be able to participate in Life Insurance which has been domesticated in Kenya and will also benefit from the preference given to local companies on other classes of Insurance businesses. This is expected to boost premium income and profit significantly.