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Nigeria: Allianz Group to buy Ensure Insurance Plc

Business & Economy

Insurance: www.medianet.info

Allianz Group reported an authoritative consent to procure 98 percent of Nigerian insurer Ensure Insurance Plc. from its main investor Greenoaks Global Holdings Ltd. (GGH).

Guarantee Insurance Plc. offers life and non-life coverage benefits and created 11 million euros in net premiums written in 2016.

Allianz Group sees Africa as one of the critical future development advertises and is currently present in 17 nations over the area. Nigeria, a quickly developing nation with a populace of more than 180 million nationals, is the nation with the biggest GDP on the landmass.

“Nigeria is a standout amongst the most powerful economies in Africa. The procurement of Ensure Insurance Plc. gives us full access to this key protection showcase in Africa and imprints a noteworthy point of reference for Allianz’s long haul development system on the mainland. This new stride of advancement will enable us to offer the best items and administrations to Nigerian clients in both individual and business lines. Furthermore, as we develop our phenomenal African groups, we are laying specific accentuation on employing and creating nearby ability,” said Coenraad Vrolijk, Regional CEO Africa of Allianz SE.

Pending administrative endorsements, the exchange is required to close end of 2017 when Ensure Insurance Plc. might turn into an individual from the Allianz Group.