Continental Reinsurance Plc marks a major milestone of 40 years of resilience, technical excellence, and leadership in Africa’s reinsurance industry. As the company embarks on its next chapter, Fatai Kayode Lawal steps into the role of MD/CEO of its Nigerian operations. A pioneer staff member and the very first employee of the organization, Lawal brings full-circle leadership to the helm at a defining moment in the company’s journey.
Lawal in this interview with Modestus Anaesoronye, reflects on his decades in broking, insurance, and reinsurance, and shares his vision, strategic priorities, and leadership values as he steers Continental Re Nigeria into its next growth phase. Excerpt:
As the newly appointed MD/CEO of Continental Reinsurance Plc and someone that has spent major part of your career journey in insurance, what core values have guided your leadership throughout this period?
I believe the values we uphold as individuals influence the value that we deliver to stakeholders. As such, throughout my four-decade career in insurance spanning across, broking, direct insurance, and reinsurance, I have been guided by various personal core values with two of the most important being integrity and excellence, which I sometimes prefer to describe as character and competence. Integrity is the foundation for building trust with shareholders, clients, strategic partners, teams and other stakeholders. Upholding this fundamental value even when it is inconvenient, has been pivotal in my career journey. Similarly, excellence, which I regard as a commitment to continuous improvement, is a trait that has driven me towards sustained development of my technical expertise, thereby enabling me to deliver quality service to clients. These values, among others, have empowered me to lead organizations through change and uncertainty while maintaining focus on long-term value creation for stakeholders.
You have held pivotal roles across broking, direct insurance, and reinsurance. How have these experiences shaped your leadership philosophy, and what unique strengths do you now bring to Continental Reinsurance as the MD/CEO?
My diverse experience across the insurance value chain has taught me the importance of collaboration, agility, and a comprehensive understanding of industry dynamics. Also, I gained a front seat experience on how innovation, risk management can be used to effectively build strong stakeholder relationships. As MD/CEO of Continental Reinsurance, I bring a holistic perspective, strategic insight, and a commitment to driving sustainable growth and value for all our partners.
This year marks Continental Reinsurance’s 40th anniversary and a significant milestone in the life of the Institution. How do you intend to honour the company’s legacy while positioning it for the next phase of growth?
It may interest you to know that l was actually a part of the pioneer management staff of Continental Re approximately 40 years ago and as the very first employee of the company. Therefore, as I took up the role of MD/CEO of Continental Re in its fortieth year, I was already fully aware of the company’s strong legacy of resilience, having weathered numerous economic and market storms. To this end, my focus is to ensure that this reputation of resilience is maintained and improved upon. We will utilise our extensive knowledge of the insurance market, to deliver operational excellence to clients and profitable growth for our shareholders. Our 40th anniversary gift to all our clients is the provision of our robust capacity, technical expertise, and improved claims management.
With the transition to a Pan-African holding structure, how will the Nigerian entity contribute to the Group’s vision of regional integration and long-term sustainability?
As the Group transitions to a consolidated holding structure, the Nigerian entity remains pivotal to Continental Re’s overall success. Nigeria is not only our largest market but also a springboard for talent, innovation, and strategic partnerships. Our priority is to ensure seamless alignment with the Group’s broader vision while strengthening local market relevance. The entire Continental Re Group will benefit from the unique capabilities that are resident in Continental Re Nigeria and vice versa. This implies that the existing Centres of Excellence, which are domiciled in Nigeria, such as our experts in Engineering, Marine, Energy, etc., will continue to support the broader Group objectives while Continental Re Nigeria also taps into the expertise domiciled in other regions and at the Group.
Read also: Continental Reinsurance strengthen leadership to drive Pan-African Holding structure
How do you plan to strengthen Continental Re’s role in shaping the Nigerian and broader West African reinsurance landscape, especially given evolving risks and regulatory expectations?
The risk environment in West Africa is evolving rapidly, particularly due to the increasing frequency and the impact of climate-related exposures, such as floods. Likewise, imminent regulatory reforms in key markets like Nigeria are expected to strengthen the capacity of direct insurers and reinsurers. These and other trends will transform the insurance industry landscape in the medium term. For us at Continental Re, we will deepen engagements with regulators and relevant industry bodies like NAICOM, NIA, WAICA, among others, with a view to contributing to policy dialogue, offering innovative risk transfer solutions, strengthening technical capacity, and championing product innovation tailored to addressing emerging risks.
Continental Re’s reputation is deeply rooted in technical excellence and reliability. How do you plan to balance this with the increasing demand for digital solutions and customer-centric innovation?
We will leverage our technical expertise to integrate digital solutions that enhance our technical excellence and reliability, making our services more accessible and responsive. We will embrace agile strategies to anticipate evolving customer needs while maintaining the highest standards of reliability and professionalism. This balance will position Continental Re as a forward-looking leader in the industry, committed to excellence and customer satisfaction.
Human capital remains a cornerstone of reinsurance excellence. How will you champion leadership development and capacity building across your teams?
Given our aspirations as highlighted previously, I am committed to putting our people first by fostering a culture of continuous learning, leadership development, and talent growth. We will continue to invest in capacity-building initiatives, mentorship programs, and skills enhancement to empower our teams to excel and drive innovation. This focus on human capital will ensure we remain a resilient, competitive, and industry-leading reinsurance company.
Looking ahead, what legacy do you hope to leave at the helm of Continental Reinsurance Plc, Nigeria?
With the end in mind, I aim to leave a legacy of transformative leadership that strengthens Continental Re’s reputation as the most responsive reinsurer. My goal is to build a motivated, skilled, and diverse team dedicated to excellence and customer focus. Above all, I want Continental Re to remain a trusted partner and industry leader for generations.
I aspire to leave behind a stronger, more innovative Continental Re deeply embedded in West Africa’s growth. A company that leads in technical excellence while championing collaboration and digital transformation. I hope to be remembered for honouring the company’s legacy while paving a bold, sustainable future.
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