Pan-African reinsurer Continental Reinsurance Holdings is looking to raise approximately US$156.1 million in proceeds from its initial public offer, which includes US$30 million in fresh primary capital that will be used to strengthen the company’s underwriting capacity.
Opened on August 5, 2026, the Public Offer comprises US$126.1 million relating to the acquisition of existing shares, allowing retail and institutional investors to join a business supporting African insurance markets for over four decades, and US$30 million in fresh primary capital for the Group.
As the first reinsurer to seek a listing on the Botswana Stock Exchange, the transaction represents an important milestone for both Continental Re and Botswana’s capital markets.
The listing will strengthen Botswana’s position as a platform for pan-African financial services, with the Group’s Botswana-domiciled holding company accredited under the Botswana International Financial Services Centre framework.
Proceeds from the IPO will support Continental Re’s next phase of growth by strengthening the Group’s capital base, expanding its Alternative Solutions business, enhancing technology and operational capabilities, and supporting an upgraded financial strength rating over time, explained the company.
Following approval by the Botswana Stock Exchange of a revised offer timetable, the Public Offer will now close on October 9,2026.
Lawrence Mutsunge Nazare, Group Managing Director, said: “The Public Offer gives investors an opportunity to understand our business, our markets and our future growth plans. Continental Re has spent more than 40 years helping insurers across Africa absorb risk, build resilience and support economic growth. Through this Public Offer, we are inviting investors to participate in the next phase of that journey.
“The US$30 million in fresh primary capital will strengthen our underwriting capacity, support solvency and rating resilience, and help scale our Alternative Solutions business. It will also support our aspiration to strengthen our financial strength rating over time, positioning Continental Re to serve even more clients across the continent. We believe our disciplined underwriting, strong governance, pan-African footprint and long-term growth strategy provide a compelling investment proposition, and we look forward to welcoming new shareholders.”
Operating through six regional hubs in Gaborone, Lagos, Nairobi, Douala, Abidjan and Tunis, Continental Re provides composite reinsurance solutions to insurance companies in more than 50 African countries.
It serves more than 900 cedant, broker and counterparty relationships through a diversified portfolio spanning Property & Engineering, Casualty & Liability, Marine & Aviation, Energy & Political Risks, Agriculture and Life Insurance.
The capital raise follows a solid performance in the 2025 financial year, during which the reinsurer posted US$173.1 million in insurance revenue, US$165.6 million in gross written premiums, and profit before tax of US$9.7 million. Underwriting profitability also improved, with the combined ratio strengthening to 92% from approximately 94% in the prior year, alongside a loss ratio of 33%.
According to the announcement, the Board intends to distribute between 40% and 60% of annual net income as dividends, subject to future performance and Board approval.
