Continental Reinsurance Plc registers new subsidiary in South Africa

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 […]

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; 
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.