Allianz Group has completed the acquisition of 99.03 per cent of the shares in Ensure Insurance Plc from its core shareholder, Greenoaks Global Holdings Ltd. (GGH), the Group’s Africa Regional Chief Executive Officer (CEO), Coenraad Vrolijk has said.
Speaking at a press briefing in Lagos, Vrolijk said Ensure offers life and non-life insurance services and generated 18.2 million euros in gross premiums written in 2017.
He disclosed that the company will operate in Nigeria as Ensure – a company of Allianz, adding that Allianz Group views Nigeria as a high-potential market in Africa with a strong regulatory environment and promising demographics.
He said: “We are pleased to enter this fast-growing market through the acquisition of a solid financial player with strong local expertise.
“This new step 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 in both personal and commercial lines.”
The firm’s Chief Responsibility Officer, Owolabi Salami, on his part said the acquisition will be highly beneficial to our business and improve our service platform to our valued clients.
He said the company is excited to harness the depth of technical competence that Allianz has acquired over the years and experience garnered through serving clients in various sectors.
“The Allianz Group is one of the world’s leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance.