As the list of Insurance Companies already acquired by foreign insurers continue to grow: NSIA snapped up ADIC; AXA acquired Mansard Insurance;, Greenoaks acquired Union Assurance; Saham recently acquired Unitrust; Old Mutual got Oceanic Insurance; Sanlam has 35% of FBN Life and Liberty is set to snap up an insurance entity and with many more to come……
People have argued that consolidation is necessary for the Nigerian insurance sector to take its pride of place in Africa.
How would this development affect the sector?
Come on let us discuss!!