CONTINENTAL Reinsurance reported earnings results for the second quarter of 2014. The firm's underwriting profit reduced by 29% from NGN 1.1billion to NGN 786.8 million mainly due to worse claim, while investment Income was lower by 4% from NGN 513.3 million to NGN 494.8 million due to the drop in yields across short-term interest rate instruments. The profit before tax was lower by 18% from NGN 1.4 billion to NGN 1.1 billion in the period under review as a result of a reduced underwriting profit, while profit after tax was 17% lower from NGN 1.1 billion to NGN 907.5 million.
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- Continental Reinsurance Reports Earnings Results for the Second Quarter of 2014