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Fewer but larger insurers needed in Africa: Continental Re chief

April 23, 2014 - 6:00am

Nigeria-based Continental Reinsurance P.L.C.'s managing director Femi Oyetunji has called on governments in Africa to support insurance mergers and acquisitions, which will help create a stable insurance market.

Mr. Oyetunji told Thisday Live that there is a need for fewer but larger insurers and reinsurers in Africa, which currently has "too many" insurers.

He said small industry players "can come together and form more formidable institutions."

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