Pan-African Continental Re sees huge growth as Africa's construction booms

Lawrence Nazare, Executive Director, Continental Re

Africa’s Continental Re plans to double premium income from its property and engineering business to $80 million over the next five years, as it bets on the continent’s infrastructure boom, its executive director said.

Insurance companies are pushing for growth in Africa where many people are uninsured, banking on growing premiums as the continent develops its infrastructure and a consumer class demanding protection from risk.

The property and engineering business contributed 44 percent of Continental Re’s total revenue, but Executive Director Lawrence Nazare expected it to grow to 50 percent in five years.

Read more: Continental Re sees huge growth as Africa's construction booms | Reuters.

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