By Ogbuotobo Chuks

With just nine days to the conclusion of the recapitalization exercise of insurance firms in Nigeria, all players that do not want to be swept away by the National Insurance Commission(NAICOM) are indeed putting finishing torches in order  that they meet up with the deadline.

Let us take a look at how they stand presently and the mergers we should most likely expect.

STAND ALONE COMPANIES                   

Nicon Insurance                                    Capital Express Assurance

Niger Insurance                                         Unic Insurance  

Cornerstone Insurance                             The Lion of africa

Prestige Assurance                                  Allied and General Insurance  

Standard Alliance                                Guinea Insurance

Equity Life Insurance                              Yankari Insurance

Unitrust Insurance                                  ACEN Insurance

INSURANCE COMPANIES BACKES BY BANKS

Union Assurance (Union Bank)

Zenith General Insurance (Zenith Bank)

Guardian Express Assurance (Spring Bank)

Guaranty Trust Assurance (GT Bank)

Oceanic Insurance (Oceanic Bank)

UBA/Metropolitan Life Insurance (UBA plc)

Great Nigeria Insurance (Wema Bank)

Law union and rock Insurance (Skye Bank).

Apart from the above listed names, there are about 20 groups that are likely to evolve as a result of mergers. We’ll analyze them in subsequent articles.

(No Ratings Yet)

 Loading ...

This entry was posted on Monday, February 19th, 2007 at 10:16 am and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. Tags: Insurance
You can skip to the end and leave a response. Pinging is currently not allowed.