Monday, May 17African Business News
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Tag: N15B

Insurer targets N15b assets sale to boost financial position

Insurer targets N15b assets sale to boost financial position

Insurance
An underwriting firm, Niger Insurance Plc, has revealed plans to sell off the company’s real estate and investment property valued at N15 billion to improve its liquidity and ensure reserve adequacy for better business operations. Speaking on this development at the 2019 virtual yearly general meeting, in Lagos, Managing Director/Chief Executive Officer, Edwin Igbiti, said the property has been put on sale following the approval of shareholders mandating the company to do so. According to him, “We are encouraged by the progress made so far and confident that both our capital restructuring and recapitalisation efforts will be successful in line with NAICOM’s regulatory timelines.”x Igbiti said the firm is investing in data analytics and technology to differentiate its offerings, d...