Continental Re sets pace for Cameroun market
Ayeleso Oladele, Lagos
From right, Mr. Gbenga Falekulo, Divisional
Managing Director; Mr. David Sobanjo,
Director; Mrs. Abimbola Falana, Company
Secretary; and Mr. Adeyemo Adejumo,
Managing Director and Chief Executive
Officer (All of Continental Reinsurance),
during the board meeting of the company
held in Cameroun recently.Resolute to join the
league of insurance
market in the African continent and indeed the global markets on Information and Communication Technology (ICT), Cameroon insurance market has expressed its appreciation to Continental Reinsurance Plc for the innovation the reinsurer is identified with.
Mr Andre Bayala. Immediate past president of the Federation of African Insurance and Reinsurance Companies, FANAF who spoke the minds of Francophone community and Cameroon operators while addressing guests at Continental Re cocktail held in Douala, Cameroon recently, the innovation with the reinsurer carried out its business operations is worthy of emulation.
According to him, "Let us continue supporting them through our confidence and transfers so that in return, they will always back us in our growth and in our desire for innovation, independence and in the freedom of choice in our partnerships".
He said, "Continental Re shareholders and all its staff have convinced us, through their laudable initiative, their proximity and the strong capitalisation of their company, that we can, with complete peace of mind, have confidence by strengthening our ties with them to give them positive go ahead in their will for professionalism".
"The company’s passion for efficiency and excellence has open to companies enhanced security and freedom of choice in our indispensable partnerships with the reinsurance world, by consolidating the African offer that the will always be by our side whatever the hazards of the world economy"
Bayala who is also a member of Continental Re’s audit committee urged the Cameroon insurance operators to take a leaf from Continental Re "In fact, for our companies to develop, we need professional, dynamic, well capitalised Reinsurers like Continental Re, offering proximity services in line with our level of development, with the specificity of our markets, our economies and taking into account the needs of our companies".
"It is in this light that I salute Continental Re’s initiative, this African Reinsurer which has been strongly capitalised and which today has its own funds of more than 40 billion CFA francs; And has opened, since 2005, a regional office in Douala, which participates in all meetings of our Federation of which it has been sponsoring for the past four years".
"It brings to our companies an appreciable support in facultative businesses when others are interested only in treaties, and which, in order to assure us of its transparency and accountability, the company co-opted me, a Francophone player in its Audit Committee", he said.
In the same vein, Engr Akin Laguda, Chairman of Continental Re amplified Bayala’s statements stating that the reinsurer’s strong corporate governance is not only indispensable to resilient and vibrant capital markets and is an important instrument of investor protection but important to its clients around the globe.
Laguda stated, It is the same blood of transparent corporate disclosure and high-quality accounting practices that fills the veins of our company that we used to muscle viable and accessible financial reporting culture.
He said, "We, at Continental Re imbibed spirit of good corporate governance that has helped to shape the growth and the future of our company. Corporate Governance - clarity of mission and corporate values; quality human capital, quality leadership, sizeable market share and professionalism"
