Equity Life Insurance

[Murphy]

Originally Posted by hispy99

Most likely it has been lifted. What happens next? You saw a glimpse of that today...it's going down like almost every other stock

The price was marked down for Dividend payment of 15k.

[micke928]

Can anyone pls tell me when the technical suspension on equity will be lifted?

[austine42007]

the supention hs been lifted so still wait for them to plan another supention

[Inans]

Equity Assurance is still on technical suspension for the impending public offer.

The price has been marked down for a div of 3.5k hence the change in price from N5.09 to N5.06.

The probably are bidding their time under this bearish season b4 coming out for the offer. They must wait for the bears to disappear or come out with a spectacular half yr result if the offer must succeed.

[hispy99]

Originally Posted by Murphy

The price was marked down for Dividend payment of 15k.

Thank you for the info

[Gucci Rufus]

Guys, is there any good news about when Equity will be out of TS?

[olusolakemmy]

Originally Posted by Gucci Rufus

Guys, is there any good news about when Equity will be out of TS?

infact the good news is that equity assurance is under TS!!
if not for the TS, EA will be selling for N2!

so, i wish that by the time they are lifting the TS, there would have been a change in the market mood and everybody will be generally bullish and that will positively affect EA.

the volume of EA shares been offer daily clearly shows that it will be droping 5% daily, hence the TS is actualy protecting you from such depreciation

so, instead of prayng for the TS to be lifted, pray that it should be lifted at the right time.

however, the reason the TS was place in the first place is because EA applied to raise fund from the primary market and they have not done that yet. By regulation, the TS will be lifted two weeks after the conclusion of the PO

[tgs]

Originally Posted by olusolakemmy

infact the good news is that equity assurance is under TS!!
if not for the TS, EA will be selling for N2!

so, i wish that by the time they are lifting the TS, there would have been a change in the market mood and everybody will be generally bullish and that will positively affect EA.

the volume of EA shares been offer daily clearly shows that it will be droping 5% daily, hence the TS is actualy protecting you from such depreciation

so, instead of prayng for the TS to be lifted, pray that it should be lifted at the right time.

however, the reason the TS was place in the first place is because EA applied to raise fund from the primary market and they have not done that yet. By regulation, the TS will be lifted two weeks after the conclusion of the PO

thanks for your usefull taught, this shows dat, good thing can come out of a bad situation sometimes, so we shd keep our finger cross and wait for miracle to happen.

[hispy99]

Equity Life set for new dawn

ACTIVITIES to mark a rewrite in the history of Equity Life Assurance Plc would be unveiled in the next couple of day, as the company celebrates its 10 years of successful business in the Nigerian insurance market.

The life insurance specialist would be unveiling a new corporate insignia that would drive its activities and operation in the new consolidated insurance market.

Meanwhile, shareholders of the company would be gathering in Lagos by the end of this month to give necessary approvals to some of the new takes of the company, while using the opportunity to review its activities in the outgone financial year.

A source from the company say that management has put in place a number of activities to usher in a new dawn in the life of the company, with the symbol of 08:08:08, to be unveiled soon.

Seyi Ifaturoti, managing director and chief executive officer of the company said that the recapitalisation that took place in the nation's insurance industry has repositioned Equity life with bigger capacity and potential for higher grounds.

She said that the company during the recapitalisation exercise increased its size with the coming on board of Skye Bank as its major shareholder, other key investors and eventual absorption of life portfolios of other insurance companies.

The company is taking advantage of her partnership with the bank to deploy bancassurance services to its clients and potential clients nationwide.

According to the life specialist firm, having the bank as one of its major shareholders has afforded it the opportunity to comfortably deploy her business development associates who provide life assurance services and advice to the bank's numerous customers under the Bancassurance model.

Adeniyi Aromolaran, AGM corporate development and strategy had said that the partnership with Skye Bank is one of the dimensions to enhance and drive the company's retail strategy to achieve a minimum of one million active and sustained life policies within the next eight months.

The strategy is further complimented with life offices in various markets similar to bank's cash centres' to reach the grass root through the provision of a savings product called "Flexi".

Akinsola Akinfemiwa, managing director, Skye Bank and chairman of the company along side other directors have endorsed the various initiatives within the company's growth plan and have encouraged the management team to consistently stay ahead of the competition by engaging and retaining the best hands in the market.

[dannynoko]

Equity life result,looks like is not too bad. Is this company different from Equity Assurance(3.5K div earlier)?

Proshare News and Analysis
Equity Life records N500m PAT
Posted Monday, August 4, 2008



Equity Life Insurance Company Limited has recorded a profit after tax of N500m for the 2007 financial period. This is 1,200 per cent above the N37.5m made in 2006.



The Managing Director, Equity Life, Mrs. Seyi Ifaturoti, said this during the company’s 10th annual general meeting held in Lagos on Thursday.



She said that its Equity Life Fund grew from N164.9m in 2006 to N333.1m in the period under consideration, representing a 102 per cent change.



The company, she said, would pay a dividend of N200m, translating into 4k per share, and a bonus of two ordinary shares for every 25 held as at the end of the financial year .



At present, she added, the total assets of the company stood at N3.9bn with shareholders’ funds in excess of N3.2bn.



“Despite the challenges the insurance industry faced in 2007 due to the lengthy period of time it took to conclude the recapitalisation and consolidation exercise, Equity Life recorded an impressive achievement in the year under review,” Ifaturoti said.



She added that this was a reflection of the public’s confidence in the company.



In a bid to reposition it as the leading life insurance company in the country, she said that the management was anticipating a significant increase in its gross premium as it was set to utilise government’s drive to fully implement the compulsory group life assurance scheme and annuities under the Pensions Reforms Act .



Ifaturoti said that the company was coming up with new products, which would be relevant to the insuring public.



“The policies we are putting in place are things that people really need, which are prominent for the insurance industry,” she said



Ifaturoti added that in order to meet up with the developments in the sector, the company was upgrading its information technology infrastructure and rebranding its website.



“We have survived three recapitalisation exercises in the insurance industry, and we are re-strategising to become the leading life insurance company in the industry,” Ifaturoti said. - Punch

[billions]

Proshare News and Analysis
Equity Assurance set to raise N6.375 billion
Posted Monday, August 4, 2008

- Offer opens August 08



PETER OBIORA

Proshare NI

August 04, 2008 at 16:13 GMT



Equity Assurance Plc (EA) is set to raise a fresh fund of N6.375 billion through the Nigerian Capital Market by way of offer for subscription. This information was made available to Proshare NI from the company’s website in Lagos Nigeria.



To raise the N6.375 billion, EA is offering to members of the Nigerian Investing Public 1.5 billion Ordinary Shares of 50 Kobo each at N4.25 Kobo per share.



The offer would open August 08 and close September 08, 2008. As at the time of filling in this report, other details were not made available to Proshare NI.

[hispy99]

Originally Posted by billions

Proshare News and Analysis
Equity Assurance set to raise N6.375 billion
Posted Monday, August 4, 2008

- Offer opens August 08



PETER OBIORA

Proshare NI

August 04, 2008 at 16:13 GMT



Equity Assurance Plc (EA) is set to raise a fresh fund of N6.375 billion through the Nigerian Capital Market by way of offer for subscription. This information was made available to Proshare NI from the company’s website in Lagos Nigeria.



To raise the N6.375 billion, EA is offering to members of the Nigerian Investing Public 1.5 billion Ordinary Shares of 50 Kobo each at N4.25 Kobo per share.



The offer would open August 08 and close September 08, 2008. As at the time of filling in this report, other details were not made available to Proshare NI.

Finally, after almost 4 months under TS...these people are brave though, insurance stocks have been hammered since the stock went on TS in middle of April.

[austine42007]

plz can somebody explain the difference betw equity assurance and equity life assurance bcos i read that equity assurance give a dividend of 3.5kobo and equity life assurance gives 4kobo and a bonus of two for every 25 held by is shareholder so somebody should pls explain the difference betw both of them i do not understand bco i think equity life assurance is the same with equity assurnce or is he a subsidiary to equity pls to cut longh talk shorter plz educate me in both of them

[dannynoko]

Austine42007- I posted the latest result of the Equity life Insurance of 4K & 2:25 Bonus, but am as confused as you are regarding the difference between the two company. Please can somebody explain the difference between the two for us to know what to we are to expect. Thanks.

[billions]

Originally Posted by dannynoko

Austine42007- I posted the latest result of the Equity life Insurance of 4K & 2:25 Bonus, but am as confused as you are regarding the difference between the two company. Please can somebody explain the difference between the two for us to know what to we are to expect. Thanks.

Equity life insurance Limited is a subsidiary of Equity Assurance Plc.

However, it appears that we hv another "equity life insurance" with a different ownershp structure.

More comments pls.

[hispy99]

Originally Posted by billions

Equity life insurance Limited is a subsidiary of Equity Assurance Plc.

However, it appears that we hv another "equity life insurance" with a different ownershp structure.

More comments pls.

Equity Life Insurance is a subsidiary of Equity Life Assurance. I doubt if the CAC will register another "Equity Life Insurance" in the insurance industry apart from Equity Life Assurance's subsidiary.

:: Equity Assurance ::