Continental Reinsurance Plc announced earnings results for the third quarter of 2014. For the quarter, the company announced gross premium written rose by 6% to NGN 12.0 billion in the third quarter of this financial period from NGN 11.3 billion in the corresponding period of 2013. The company's profit before tax was NGN 1.69 billion in the period under review is marginally lower than the NGN 1.70 billion in the corresponding period of last year as a result of reduced underwriting profit due to the impact of claims. Profit after tax, rose to NGN 1.36 billion compared to NGN 1.35 billion a year ago.

Underwriting profit reduced by 23% to NGN 1.0 billion from NGN 1.3 billion mainly due to worse claim experience. Underwriting profit grew by 29% from the previous quarter. The company disclosed that its investment income rose by 16% in the period under review to NGN 1.0 billion from NGN 879.3 million in the corresponding period of last year.