Continental Reinsurance Holdings Limited has reported an increase in half-year earnings, with profit after tax rising by 902 percent to P64.4 million for the six months ended June 2026, as the company moves closer to its planned listing on the Botswana Stock Exchange.
The improved financial performance forms part of a supplementary prospectus approved by the BSE, which also confirms that existing shareholder ACA Cornerstone Limited will retain its entire stake in the reinsurance group rather than sell its shares as initially proposed.
The company’s profit before tax increased by 352 percent to P79.2 million, compared with P17.5 million recorded in the corresponding period of 2025, while insurance revenue grew by 2.4 percent to P1.213 billion.
Its underwriting margin also improved to 6.8 percent from 4.2 percent in the prior-year period, indicating stronger performance from its core insurance operations.
As at June 30, 2026, Continental Re reported total assets of P3.27 billion and shareholders’ equity of P1.43 billion.
The supplementary prospectus provides updated information for investors ahead of the company’s proposed public offer and listing on the BSE Main Board.
Under the revised offer structure, ACA Cornerstone, a promoter-controlled shareholder vehicle, will retain all 253.95 million shares it currently holds. The shares represent 14.8 percent of the company’s existing share capital and approximately 11.9 percent of its enlarged issued share capital after the offer, assuming all proposed new shares are issued.
ACA Cornerstone has also undertaken, subject to specified conditions, not to sell the shares for at least five years after the listing.
Mutsunge Lawrence Nazare, group managing director of Continental Reinsurance Holdings, said the revised offer followed engagements with investors and was intended to strengthen confidence in the company’s long-term prospects.
He said the decision by ACA Cornerstone to remain invested, alongside its five-year share retention commitment, would improve alignment between existing and incoming shareholders.
The company is seeking to raise $30 million in new capital through the offer for subscription, with the offer price unchanged at P1 per share.
The public offer is scheduled to close on November 20, 2026, while the proposed listing is expected to take place on December 10, subject to applicable listing requirements.
Investors who submitted applications before the supplementary prospectus was published may retain, amend or withdraw their applications. The deadline for changes or withdrawals is November 11, 2026, after which applications without amendment or withdrawal notices will remain valid.
The supplementary prospectus is to be read alongside the original prospectus dated August 4, 2026. Both documents are available on the company’s website and through its sponsor, Motswedi Securities.
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