Continental Reinsurance Plc has announced the appointment of Chief Ajibola Ogunshola as the new non-executive Chairman of the Board to succeed Nadia Fettah.

The appointment took effect from November 8, 2016.

Established in 1985 and listed on the Nigerian Stock Exchange in 2007, Continental Reinsurance provides support to over 200 insurance companies in Africa, with its main offices in Nigeria, Cameroon, Kenya, Côte d’Ivoire, Tunisia and Botswana.

It also has a specialist subsidiary, Continental Property and Engineering Risk Services, which is registered in South Africa.

Commenting on his appointment, Ogunshola was quoted to have said in a statement issued on Monday: “I am honoured to accept the Board’s appointment. Continental Reinsurance is at an exciting phase and I look forward to working with the Board and management to build on the success that has been achieved so far.

“I strongly endorse the strategic vision of building Continental Reinsurance Plc to be the premier private pan-African reinsurer.”

Ogunshola holds a B.Sc. (Honours) degree in Mathematics from the University of Ibadan, and was the first black African to qualify as a Fellow of the Institute of Actuaries, United Kingdom.

He was for many years the representative of the institute in Nigeria, and a member of the International Association of Actuaries.

The Group Managing Director/Chief Executive Officer, Continental Reinsurance Plc, Dr. Femi Oyetunji, said: “We are pleased with the appointment of Chief Ogunshola as chairman. His experience and deep understanding of the industry will be instrumental in achieving our strategic objectives.

“Chief Ogunshola has a formidable track record and Continental Reinsurance will greatly benefit from his knowledge and vast experience. I will also like to thank Mrs. Nadia Fettah for her contribution as chairman. She has been a great source of advice and guidance for the business. She leaves with our best wishes.”

Over the years, Ogunshola has contributed to the development of many organisations while serving in various capacities, including as Managing Director of Niger Insurance; Chairman, Alexander Forbes Consulting Actuaries (Nigeria); Chairman, Punch Nigeria Limited; Chairman and Managing Consultant, Ajibola Ogunshola & Company (Actuaries); foundation President, Nigeria Actuarial Society; and President, Newspaper Proprietors’ Association of Nigeria.

Continental Reinsurance Plc is 58.4 per cent owned by C-Re Holding Limited, a Mauritius-based investment vehicle, with the remainder being free float.

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