Crusader Nigeria Plc

[riskreturn]

Everybody should open his/her wallet to subscribe for this coming PO (Please, open the link posted below):

BusinessDay... the voice of business - Crusader Nigeria hybrid offer opens this month

[zainabusman]

Originally Posted by riskreturn

Everybody should open his/her wallet to subscribe for this coming PO (Please, open the link posted below):

BusinessDay... the voice of business - Crusader Nigeria hybrid offer opens this month

Crusader, AP, Union Bank all doing PP at this time. I wish them luck.

[ntom]

Originally Posted by zainabusman

Crusader, AP, Union Bank all doing PP at this time. I wish them luck.

the get too much liver

[BLUEMONEY]

Originally Posted by zainabusman

Crusader, AP, Union Bank all doing PP at this time. I wish them luck.

I believe you meant P.O
I am realy suprised at the amount of money UNION BANK want to raise. i will realy like to know the Underwriters of the offer.

[billions]

Proshare News and Analysis
Crusader Nigeria hybrid offer opens this month
Posted Friday, August 8, 2008



Crusader Nigeria plc is set to flag off its N13 billion hybrid offers that would enable it put necessary structures in place to assume a complete financial service conglomerate. Its core business was insurance before a recent restructuring that would enable it deliver other services including real estate, pension fund administration, asset management, mortgage financing and possibly investment banking.



The offer billed for end of next month would include a rights issue of one share for every five shares held in the company for existing shareholders; offer for subscription as well as N4 billion Convertible Debenture Stock.



According to the company, any over subscription would be accommodated to the tune of 25 percent.



Tola Mobolurin, group managing director of the company, who disclosed this in Lagos stated that the Crusader has been broadened to accommodate numerous investments coming from other financial services sub sectors outside insurance.



This he noted is necessary to create more value for shareholders and take advantage of emerging opportunities in other financial services areas, that current growth in insurance and economy generally would propel.



According to him, the forth coming offer has been widened to accommodate varieties of investors while also allowing existing shareholders take their rights, because they have grown with the company. - BusinessDay

[hispy99]

Crusader boosts life insurance with annuity

By Nike Popoola
Published: Monday, 11 Aug 2008

The Group Managing Director, Crusader Insurance Plc, Mr. Tola Mobolurin, has said that the company was making its annuity product more attractive in order to grow its life insurance business.

He said this at a press briefing in Lagos on Thursday.

Mobolurin said that Crusader was designing its annuity product in line with 2004 Pension Reform Act.

An annuity is a contract between a client and an insurance company, under which the client makes a lump-sum payment or series of payments.

In return, the insurer agrees to make periodic payments to the client beginning immediately or at some future date.

“Crusader’s annuity is very flexible because if for instance, you retire and you are still strong and can get another job, you may decide to postpone collecting of your income until the time you are ready for it,” he said.

Some, he added, however, preferred programmed withdrawals.

He said that this could be applicable for some because of different reasons such as the possession of other savings, which they could fall back on.

“The main benefit of an annuity plan is that you receive the money until you die, you do not determine when you will die. Crusader annuity plan takes care of that and the risk of you dying or living very long,” he added.

On the issue of some recent publications on the company concerning the claims of ADC plane crash in 2006, he said that apart from the fact that the company raised the level of cover from one to five per cent, part of the risk was shared with other local insurance companies.

The portion left for Crusader to settle, he added, was very insignificant because most of the claims had been settled.

In insurance, he said, the person with the overwhelming proportion of the risk determined the negotiation process.

He said that the company wanted the negotiation process to be done quickly by other parties involved, so that it could put the issue behind.

“We are doing more than insurance now as a group, we will continue to provide the leadership position that we have always provided and we will also bring our professionalism to bear on real estate as well as other financial services,” Mobolurin said.

[hispy99]

Crusader Insurance set to shop for N15b on the Exchange

IN order to further strengthen the company and give better returns to stakeholders, Crusader Nigeria Plc may shop for additional N15 billion in the Stock Exchange.

Addressing brokers at the August edition of the members evening in Lagos, the Managing Director of Crusader General Insurance Limited, Mr. Nimbe Oviosu solicited brokers' support by way of patronage of the offer.

He said: "The joint paid up shareholder's fund and asset base of Crusader's two Insurance Companies stand at N8.37 billion and N13.02 billion respectively at the end of 2007 financial year. In order to further strengthen the company and give better returns to all stakeholders we shall break open a public offer on the Stock Exchange worth about N15 billion.

"With the consistent profile of good returns we are sure of full subscription but will still appeal to you to also support by way of patronage of the offer.

"In 2006 we paid a dividend of 15 kobo for every 50 kobo share and repeated the same in 2007. By our half-year figures we should be able to meet or surpass this amount."

On future prospects, he said: "We have not doubt in our minds that because the future stands today, that Crusader is being prepared for a very robust future by the structures and processes that we are putting in place. In order to improve substantially on our service delivery, we have committed resources to new software known as PREMIA, a world-class web based insurance package that should be operational from the last quarter of this year. Very shortly, you will be able to see vast improvement in our service delivery both at the head office and in all our branches."

Said he: "Flowing from our desire to be physically close to our customers in terms of proximity, we have started a programme of branch growth that will see Crusader represented across the length and breadth of Nigeria in line with our outlook as a national company. To this end, we have in the last one year opened new offices at Apapa, Victoria-Island, Calabar and Jos.

"Your members in these locations will find these branches useful as they have more outlets from which we can assist them service their clientele."

According to him: "We believe that sound knowledge is the foundation for real growth and positive change. To this end, we have embarked on the training of our manpower to be able to exploit the vast opportunities thrown up by the various policies of government, for example, the local content policy in the petroleum sector as well as the carbotage law in relation to hull covers.

"To position ourselves to play a prominent role in these areas, we have trained our managers abroad who will now lead our operations in areas of special risks, oil and gas and marine.

"This is a continuous programme as we are set to expose more of our top and middle managers to relevant foreign and local trainings.

"We are committed to developing products and services that meet the aspirations of our numerous clienteles. From the foregoing you already have a peep into some of the new products from our stable. We would also be willing to partner with any of your members to jointly develop products in both life and general business."

[knightofdelta]

I am so angry at the market right now I do not intend to invest in this PO despite the large amount of rights issues I may get...

[BLUEMONEY]

Originally Posted by knightofdelta

I am so angry at the market right now I do not intend to invest in this PO despite the large amount of rights issues I may get...

Then Find a way to sell Your Right.

[chokit]

Please has anyone received 2007 year end dividend.If yes who do i contact to get mine own.

[dejino]

From "insider" reports l got, Crusader's offer is suspended for now. They realized too late (can you imagine? after wasting millions of investor's funds, about two weekends ago, to do some jamboree enlightenment campaign!) that it jut wont sell, not at this period and climate

[hispy99]

Originally Posted by dejino

From "insider" reports l got, Crusader's offer is suspended for now. They realized too late (can you imagine? after wasting millions of investor's funds, about two weekends ago, to do some jamboree enlightenment campaign!) that it jut wont sell, not at this period and climate

You don't need a crystal ball to know that this is a wrong time to do PO. The management needs to be flogged for wasting shareholders' money on "jamboree"....chei, I am a shareholder o

[henry_bonds@yahoo.co.uk]

Originally Posted by hispy99

You don't need a crystal ball to know that this is a wrong time to do PO. The management needs to be flogged for wasting shareholders' money on "jamboree"....chei, I am a shareholder o

NSC should list the technical suspension on Crusader. I got some shares at N7.5 and i want the price to fall so that I can buy more.

[BLUEMONEY]

Originally Posted by hispy99

You don't need a crystal ball to know that this is a wrong time to do PO. The management needs to be flogged for wasting shareholders' money on "jamboree"....chei, I am a shareholder o

Since you are a shareholder, maybe you should start the Flogging, we are behind you.

[Apache]

Originally Posted by chokit

Please has anyone received 2007 year end dividend.If yes who do i contact to get mine own.

@ Chokit,

I have received my dividends. I think CSL are the registrars for crusader. Just wait a while since i just received mine last week.