Insurance Industry Reports, Insurance News in Nigeria, Latest Insurance Gossip

IAN Scoop: Liberty acquires 50-Year Old UNIC Insurance Plc

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South African Financial Services-based giant, Holdings, has acquired Plc owned by Nigeria’s Former President and Head of Interim National Government, Chief Ernest Shonekan.

Very reliable sources confirmed to Insuranceadvicenigeria.com that the acquisition is a done deal.The only thing delaying the announcement is documentation which is being finalised The Nigerian Stock Exchange (NSE) has in its latest report approved the request of  to de-list its shares from the floor of the Exchange.This news would no doubt be a huge relief to the company’s shareholders.

 Holdings Chief Executive, Thabo Dloti, had in a recent interview reiterated its resolve to conclude acquisitions of a Nigerian insurer and an asset manager by year end after elections delayed the deals. Holdings Company offers a range of long-term products and services

UNIC Insurance was incorporated in 1965 as the United Nigeria Insurance Company Limited from the merger of the Northern Assurance Company Limited and White Cross Insurance Company Limited, both overseas Insurance Companies. The company commenced operations on October 1, 1965 and has been a frontline insurance underwriter with its BUPA and other products serviced nationwide by Critical Rescue International (CRI) through its network of Medi-Clinics; fully equipped ambulances and a 24-hour medical call centre, as well as pre-audited third party provider partner medical clinics, hospitals and specialists.

There has been massive influx of foreign insurers into the Nigerian Insurance sector witnessing the likes of AXA, Old Mutual and AIG.

 

 

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