Continental Reinsurance Holdings has confirmed the successful relocation of its Group Holding Company from Mauritius to Botswana.

In a statement on Tuesday, the company said the move marked a new phase in its long-term growth and Pan-African expansion strategy.

It said the relocation followed the completion of all logistical, statutory and regulatory requirements across the relevant jurisdictions.

The company said the move underscored its confidence in Botswana as one of Africa’s most stable and forward-looking financial services hubs.

Meanwhile, Continental Reinsurance said AM Best had reaffirmed its financial strength rating at B+ (Good) with a stable outlook.

“Founded in Nigeria over 40 years ago, Continental Reinsurance has grown into one of Africa’s leading reinsurance groups.

“Botswana emerged as the preferred jurisdiction due to its political stability, sound governance, financial sector reforms and commitment to sustainable economic development,” it said.

The company noted that the relocated holding company would operate independently of its Botswana subsidiary, which has been based in Gaborone for about 11 years.

Group managing director Lawrence Mutsunge Nazare described the relocation as a strategic and symbolic milestone for the Group.

“The move reflects our deep commitment to Africa and our belief that Botswana offers an enabling environment for sustainable, long-term investment,” Mr Nazare said.

He added that Botswana’s stability, reforms and business culture, including the principle of ‘botho’, aligned with the Group’s corporate values.

Mr Nazare thanked stakeholders for their support, saying the Group remained focused on growth, strong risk governance and maintaining a robust capital base.

(NAN)