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By Ebere Nwoji
Allianz Group, one of the world's leading insurers and badet managers, recently concluded the acquisition of 99.03% of one of the companies of the Nigerian insurance market, Ensure Insurance Plc, formerly Union Insurance. ] Insurance ensured that Greenoaks Global Holdings Limited (GGH) was its largest shareholder prior to the acquisition.
With this transaction, Ensure Insurance becomes part of the Allianz group and will now operate as Ensure, an Allianz company.
Addressing the media at the end of the meeting, Allianz Africa's Regional Managing Director, Coenraad Vrolijk, said the transaction was a milestone in the long-term growth strategy of the company. Allianz in Africa, adding that the combined group aspires to become He said that Ensure Insurance offers life and non-life insurance services and will benefit from the technical underwriting. expertise, global presence and financial support from the Allianz Group.
"We have clearly identified Nigeria as a high potential market in Africa with a strong regulatory environment and interesting demographics.We are delighted to enter this rapidly growing market through the acquisition of a solid financial player with strong local expertise
"Coupled with Alliianz's underwriting capacity and its service delivery, the combined group will be able to provide high quality products. We are confident that our combined group will help support the Nigerian economy and develop the local insurance market, "said Mr. Vrolijk.
Speaking of the Allianz Group, Mr. Vrolijk described the As a single market.According to him, with its head office in Germany, Allianz customers enjoy a wide range of individual and business insurance services ranging from property, life and health insurance to credit insurance badistance and global commercial insurance services.
He said that the company , manages More than 650 billion euros for its clients and badets Allianz Global and PIMCO managers manage 1.4 trillion euros of third-party badets
On the reason why the group acquired the Nigerian company, Vrolijk said: is another step by Allianz to increase its presence in the markets Having identified Africa as one of the future growth markets. "Investment in an insurance company in Africa's largest growing market, namely Nigeria is an important step for Allianz's long-term growth strategy in Africa." Africa, "he said.
He described Ensure Insurance as one of the most innovative and dynamic insurance companies in Nigeria.
He stated that the acquisition would allow the Allianz Group to develop its business and insurance in the Nigerian market. player who has a strong financial position and strong local expertise
Also, the Executive Director, Ensure Insurance Plc, Owolabi Salami said that achieving the agreement would be very beneficial to the business of the new business and will improve its service platform at its customer value.
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