Latest news with #ContinentalReinsurance
Zawya
28-05-2025
- Business
- Zawya
Nigeria: Continental Reinsurance Group announces key leadership transitions to drive strategic growth
Continental Reinsurance Group has announced several key leadership changes that reflect the company's continued evolution into a pan-African holding structure and its commitment to robust governance and strategic growth. In the latest appointments, Mr Lawrence Nazare has been named Group Managing Director of Continental Reinsurance Holdings, headquartered in Botswana. His transition follows the completion of his tenure as Managing Director/CEO of Continental Reinsurance Plc, Nigeria, in December 2024. In this new capacity, Mr Nazare will oversee the Group's pan-African operations and long-term strategic direction. Joining him on the Board of Continental Reinsurance Holdings are two distinguished Non-Executive Directors: Mr Paul Kokoricha, former Chairman of Continental Reinsurance Plc, now appointed Chairman of the Board at Group level, and Mr Steve Iwenjora, formerly a Non-Executive Director at Continental Reinsurance Plc, who has now been appointed a Non-Executive Director at Group level. According to the company, these appointments reinforce the Group's leadership as it executes the next phase of regional integration and strategic oversight. Reflecting on his transition to the Group Board, Mr Kokoricha said, 'It has been an honour to serve as Chairman of Continental Reinsurance Plc, Nigeria, where we achieved significant milestones in growth and governance. As we now pivot to a consolidated Group structure, I am excited to continue supporting the company at this higher level—working with the leadership team to sustain our pan-African momentum and long-term ambition.' Mr Nazare added, 'It's been a privilege to lead our Nigeria business and support the broader Group's evolution. As I now focus fully on the Group-level role, I remain committed to driving Continental Re's strategic vision across Africa.' To lead the Nigeria entity in charge of Anglophone West Africa operations, Dr Fatai Kayode Lawal has been appointed Managing Director/CEO of Continental Reinsurance Plc, Nigeria, effective April 2025. Dr Fatai Kayode Lawal brings a wealth of experience to his new role. He holds a BSc (Hons) in Insurance from the University of Lagos, an MBA from the same institution, and a Doctorate in Management (Leadership and Organisational Management) from the University of Phoenix, Arizona. He is a Fellow of the Chartered Insurance Institute of London and Nigeria (FCII, FIIN). He is also a Fellow of the Chartered Institute of Personnel Management of Nigeria and the Chartered Institute of Directors. Dr Lawal's impressive career includes his most recent position as Managing Director/Chief Executive of Sterling Assurance Nigeria Ltd from January 2007 to December 2023, where he successfully integrated three merging companies and significantly grew sales. Prior to this, he served as Managing Director/Chief Executive Officer of Universe Reinsurance Co. Limited, where he improved profitability and expanded markets. His earlier career also includes a leadership role at Refuge Insurance Company Limited and a pioneering management role at Continental Reinsurance Co. Ltd. Dr Lawal has a proven track record in leadership, strategic development, market expansion, and team building. Strengthening the Nigeria Board, the Nigeria entity also welcomes three new Non-Executive Directors, whose appointments have received regulatory clearance from the National Insurance Commission: Mr Segun Adebanji – Chairman of the Board, Non-Executive Director. Mr Adebanji is a veteran finance professional and Fellow of both the Chartered Association of Certified Accountants and the Institute of Chartered Accountants of Nigeria. His international career includes leadership positions within UAC, Unilever, Nigerian Breweries, and Heineken, with postings in South Africa, Ghana, Namibia, and the Netherlands. He currently chairs Fidson Healthcare Plc and Filmhouse Group Ltd. Mrs Funmilayo Omokhodion – Non-Executive Director. A Chartered Insurer with 36 years of experience in reinsurance, Mrs Omokhodion rose through the ranks at Africa Re, serving as Regional Director for West Africa and in other senior roles. She holds a BA in English and Linguistics and an Executive MBA in Insurance, and is a member of the Council of the Africa Reinsurance Foundation. Mrs Eno Atoyebi, CFA – Non-Executive Director. With over 25 years in investment management, Mrs Atoyebi is a Chartered Financial Analyst and Fellow of the Institute of Chartered Accountants of Nigeria. She is currently the Managing Director of ValuAlliance Asset Management and oversees strategy for two mutual funds, and her earlier experience includes senior roles at Afrinvest and ExxonMobil. These appointments coincide with Continental Re's 40th anniversary, a milestone that reflects the Group's enduring legacy, resilience, and readiness for the future. The management said that with a strong leadership team in place across both Group and operational levels, Continental Reinsurance is well-positioned to deepen its impact across Africa's reinsurance landscape. ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
Zawya
30-04-2025
- Business
- Zawya
Africa's Insurance Leaders Shape a Resilient Future at the 10th Continental Reinsurance CEO Summit in Cape Town
The 10th edition of the Continental Reinsurance CEO Summit ( concluded in Cape Town with a powerful call to action for African insurance leaders: embrace innovation, cultivate adaptive leadership, and drive regional collaboration to future-proof the industry. Held under the theme 'Africa in Action,' the two-day Summit convened over 100 insurance executives, regulators, and thought leaders from across the continent for strategic dialogue and forward-looking reflection. This year's gathering also marked a significant milestone — Continental Reinsurance's 40th anniversary — celebrating four decades of commitment to risk management, capacity development, and pan-African resilience. In his opening remarks, Lawrence Nazare, Group CEO of Continental Reinsurance Holdings, highlighted the urgent need for inclusive partnerships and agile leadership in navigating today's socio-political and environmental volatility. 'Leadership in African insurance requires partnership. We must define guidelines that enable us to cope with the various changes taking place in our societies,' he said, urging the industry to turn challenges into collective opportunity. A key focus of the Summit was the transformational potential of artificial intelligence (AI). William Mzimba, former CEO of Accenture and Vodacom, demonstrated how AI can accelerate product design by creating a tailored construction insurance solution for Nigeria in under five minutes. He cautioned, however, that the goal should be collaboration between humans and machines, not replacement. 'We need to build a workforce that combines human empathy with AI-driven efficiency,' Mzimba emphasized. A real-time poll at the Summit revealed that 61% of CEOs were open to using AI in underwriting, though 41% had not yet implemented it, reflecting both optimism and a measured pace of adoption. Regulators from Kenya, Nigeria, Uganda, and Zimbabwe echoed the call for innovation. Godfrey Kiptum, Commissioner of Insurance (Kenya), stressed the importance of inclusive innovation to avoid deepening the digital divide. Nigeria's Olusegun Omosehin called for agility in the face of geopolitical disruptions, while Uganda's Alhaj Kaddunabbi Ibrahim Lubega and Zimbabwe's Dr. Grace Muradzikwa emphasized climate-responsive regulation and harmonized standards across African markets. Nyimpini Mabunda, former CEO of General Electric Africa, urged CEOs to evolve beyond conventional leadership models. 'The traditional CEO playbook is outdated. Innovation isn't a department—it's a culture,' he said, advocating for purpose-driven leadership grounded in African realities. Another key session addressed the transition to risk-based capital (RBC) frameworks. Led by David Kirk, MD of Milliman Africa, with inputs from Jooste Steynberg of the South African Reserve Bank and Cedric Maxwell, Group Chief Risk Officer at Continental Re, the panel underscored the need for a phased, pragmatic approach to RBC compliance that safeguards both growth and policyholder protection. As the Summit wrapped up, the message was clear: Adapt. Collaborate. Lead. The African insurance industry must position itself not only as a stabilizer but as a catalyst for the continent's digital and economic evolution. Journalists Honoured for Excellence in Re/Insurance Reporting The Summit also served as the backdrop for the 10th edition of the Pan-African Re/Insurance Journalism Awards, which celebrated journalistic excellence in insurance reporting across the continent. This year's competition saw a record 150+ entries from 19 African countries, a 29% increase from the previous year, reflecting growing interest and depth in re/insurance storytelling across Anglophone, Francophone, and Arabic media. Patrick Alushula of Nation Media Group (Kenya) was named overall winner and clinched the English Print category for his comprehensive article on cybercrime risks in Kenya and the rising adoption of cyber insurance. His work was lauded for its clarity, depth, and contribution to public understanding of cybersecurity and risk management. Commenting on the Awards, Lawrence Nazare stated: 'The 2025 awards mark a decade of celebrating journalistic talent and excellence within the re/insurance industry. This milestone reinforces our commitment to quality reporting and to elevating the understanding of insurance across the continent.' Winners by Category: English Broadcast • Winner: Blessing Ifechukwude – Voice of Nigeria (Nigeria) • 1st Runner-Up: Destiny Onyemihia – Voice of Nigeria (Nigeria) • 2nd Runner-Up: Ridwan Karim Dini-Osman – EIB Network (Ghana) English Print • Winner: Patrick Alushula – Nation Media Group (Kenya) • 1st Runner-Up: Isaac Khisa – The Independent (Uganda) • 2nd Runner-Up: Nanjinia Wamuswa – The Standard Group (Kenya) English Online • Winner: Okello Jesus Ojala – TND News (Uganda) • 1st Runner-Up: Nelson Mandela Muhoozi – New Vision (Uganda) • 2nd Runner-Up: Etornam Agbemor – Pent Media Centre (Ghana) French (Broadcast/Print/Online) • Winner: RABO Oumarou – Les Editions Sidwaya (Burkina Faso) • 1st Runner-Up: Ghassan Waïl El Karmouni – Medias24 (Morocco) • 2nd Runner-Up: Bahwa Ferdinand – Le (Burundi) Arabic (Broadcast/Print/Online) • Winner: Eslam Sherif – Almal (Egypt) • 1st Runner-Up: Ibraheem Issa – Almal (Egypt) • 2nd Runner-Up: Mohamed Azab Tawfik – Alborsa Newspaper (Egypt) Dr. Femi Oyetunji Future Talent Award • Winner: Ayele Addis Ambelu – Africa News Channel (Ethiopia) His piece traced the evolution of Ethiopia's insurance industry from 1905 to the present, offering a thoughtful analysis of its modern-day challenges. Distributed by APO Group on behalf of Continental Reinsurance. Additional links: (Keynote: The Future of Leadership - Managing the last all human workforce by William Mzimba) For enquiries contact: Elsie Mbera embera@ About Continental Reinsurance: Continental Reinsurance is a private pan-African reinsurance company with operations across Africa. Celebrating 40 years of service in 2025, the company has championed risk management, capacity development, and sustainable insurance solutions that strengthen Africa's resilience and prosperity.
