Continental Reinsurance Relocates To Botswana As AM Best Reaffirms Strength

Continental Reinsurance Holdings Limited has successfully relocated the Group Holding Company from Mauritius to the Republic of Botswana, following the completion of all logistical, statutory, and regulatory requirements.

This is even as AM Best has reaffirmed the company’s financial strength rating at B+ (Good) with a stable outlook.

This affirmation comes at the end of a particularly challenging and transformative period for the Group and serves as a strong external validation of its resilience and steady progress especially in strengthening its Enterprise Risk Management framework, governance, operating controls, and commitment to a robust capital base.

The rating also marks a significant endorsement of the evolution of the Group’s structure, with the rating now officially assigned to Continental Reinsurance Holdings Limited, the new Group Holding Company domiciled in Botswana.

“We appreciate the continued trust and support of our stakeholders as we advance our growth strategy and deepen our risk governance culture,” said group managing director, Continental Reinsurance Holdings, Lawrence Nazare.

He said this milestone marks a pivotal step in the Group’s evolution and underscores its strong confidence in Botswana as one of Africa’s most stable and forward-looking financial services hubs.

Founded in Nigeria four decades ago, Continental Reinsurance has built one of the continent’s most trusted reinsurance networks, serving clients across more than 50 countries in Africa.

The Group later moved its holding structure to Mauritius to accelerate access to global capital and strategic expansion.

Now, as Continental Reinsurance positions itself for its next growth horizon, Nazare said Botswana has emerged as the preferred home for its future: a jurisdiction that combines stability, sound governance, financial sector reforms, and a commitment to long-term economic transformation.

The newly relocated holding company, manned by a team of professionals, will operate separately from the company’s well-established Botswana subsidiary, which has maintained a strong presence in Gaborone for the past 11 years.

The Botswana subsidiary currently serves a growing client base, contributing meaningfully to the Group’s Africa-wide network of more than 1,000 cedants and brokers.

Mr. Lawrence Nazare described the relocation as both a strategic and symbolic milestone for the group:

To him, “this move reflects our deep commitment to Africa, and our conviction that Botswana offers a uniquely enabling environment for long-term investment. The country’s stability, institutional maturity and progressive reforms provide the foundation we require as a Pan-African reinsurer with global ambitions. The culture and ‘botho’ infused into how Botswana – and Batswana – do business is something we are inspired by. Indeed, Botswana mirrors the values we embody: integrity in conduct, passion for our mission, collaboration rooted in mutual respect, responsiveness to evolving needs, and a relentless pursuit of excellence.”

Continental Reinsurance provides comprehensive risk solutions to insurers across Africa, offering both treaty and facultative reinsurance across life and non-life classes. Guided by its philosophy of delivering Pan-African commitment, made local, the company blends deep continental expertise with strong local insight to support the resilience, competitiveness and maturity of Africa’s insurance sectors.

This relocation positions Botswana as an increasingly preferred destination for multinational financial services headquarters and reinforces the country’s growing reputation as a secure, well-governed and investment-ready economy.