Amicable Assurance Plc Life Policyholders Get Lifeline

by Free Insurance advice on May 31, 2012 · 0 comments

in General, Insurance in Nigeria, Latest Insurance News, Life Insurance

Succour  might have finally come the way of the life policyholders of Amicable Assurance Plc following  plans to transfer its life portfolio to Standard Life Assurance Plc.

The Commission disclosed that the Receiver/ has already forwarded an M.O.U (Memorandum of Understanding) seeking the Commission’s approval. The Commission is arranging meeting with the /Receiver to clear some grey areas on the transaction before the Commission’s approval.

If this happens, the life policy holders would heave a sigh of relieve having waited for several years. Amicable Assurance Plc, it would be recalled, had a vibrant  Life Assurance portfolio prior to the company’s liquidation by NAICOM in 2007 due to its failure to meet the  revised capitalization benchmark of N1billion. It was subsequently de-listed from the list of quoted companies of the Stock Exchange (NSE) in 2008.



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