Allianz Group announced today a binding agreement to acquire 98 percent of Nigerian insurer Ensure Insurance Plc. from its core shareholder Greenoaks Global Holdings Ltd. (GGH).
Prudential Plc has acquired a majority stake in Zenith Life of Nigeria and formed exclusive bancassurance partnerships with Zenith Bank in Nigeria and Ghana.
UNIC Insurance Plc was yesterday delisted and replaced by UNIC Diversified Holdings (UDH) Plc at the Nigerian Stock Exchange as the insurance company completed its transformation into a financial services holding group.
The Chairman of Guinea Insurance Plc, Mr Godson Ugochukwu, says the company is targeting to bring 80 per cent of Nigerians under insurance cover by 2021.
South Africa’s Liberty Holdings has announced that it will acquire a 75 percent stake in a Nigerian insurer, UNIC Insurance Plc, for 160 million rand ($12 million), an equivalent of N3.72billion.
Kenya, Nigeria and Morocco are the fastest growing reinsurance markets in Africa, driven by the size and diversity of their economies.
Banking transactions will, from next month, be fully insured and risks associated with them underwritten by insurance companies, the Managing Director, Nigeria Interbank Settlement System (NIBSS), Ade Shonubi, has said.
Old Mutual Nigeria and Roche Products Limited have signed a memorandum of understanding for the creation of a terminal illness insurance product that will provide insurance cover on various terminal and life threatening diseases such as heart attack, stroke, cancer, major organ transplant, kidney failure and comas.
Nigeria has been enlisted among the top 10 African insurance markets after South Africa, whose Non- Life Insurance Premiums dominated African Insurance sector with market size of over US$ 1 billion each in 2014.
3i Infotech, a global technology solutions and services enabler today announced the successful implementation of their marquee product Premia™ Insurance Suite at FBN Insurance, Nigeria(West Africa).