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By Rosemary Onuoha
The ALLIANZ Group acquired 99.03% of the capital of Ensure Insurance Plc.
The majority stake was previously held by Greenoaks Global Holdings Ltd (GGH).
According to A Allianz, the company will operate in Nigeria under the name of "Ensure – a company of Allianz & # 39;
At a press conference in Lagos, the Allianz group said it considered Nigeria as a high potential market in Africa with a promising regulatory environment.
Regional Director General, Coenraad Vrolijk, said: "We are delighted to enter this growing market through the acquisition of a solid financial player with a strong local expertise. This new stage of development will allow us to leverage the strength of the Allianz Group and the expertise of the Nigerian team to provide high quality products and services to Nigerian customers, both personally and commercially. .
"In Africa, Allianz is present in 17 countries and supports customers in 39 countries, with 1,500 employees earning € 630 million in revenue in 2017. Allianz also provides microinsurance to 500,000 families and individuals with low incomes in Africa. "
Speaking of Acquisition, Chief Responsibility Officer, Ensure Insurance, Mr. Owolabi Salami, said," The completion of this acquisition will be very beneficial to our business and will enhance our service platform to our valued customers. We are excited to leverage the technical expertise acquired by Allianz over the years of accumulated experience serving customers in various industries. We are confident that this will position us for leadership in the local operating environment. "
Bound
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