By Henry Uche
NSIA Group to which NSIA Insurance Limited belongs, recently said it has acquired four insurance subsidiaries of Sanlam Group.
According to statement released to BusinessToday Online, the long term plan and decision triggered out of the Group’s desire to strengthen its positions in West and Central Africa.
According to the report, NSIA Group began the acquisition process in 2021 with the following subsidiaries of Sanlam Groups: Sanlam Life Insurance in Togo; Sanlam Life Insurance in Gabon; Sanlam Non-Life Insurance in Congo and Sanlam Non-Life Insurance in Guinea.
According to the Chairman of NSIA Group, Jean K. Diagou, he said, “For 26 years, the NSIA Group has been implementing a controlled development strategy for its activities. This is what allows us to establish ourselves permanently in each of the countries where we operate. Today, we are strengthening our presence in Togo, Gabon, Congo, and Guinea”
NSIA Chairman said for all of its stakeholders, the operation heralds promising prospects.
He noted that the operation meets two objectives: To increase the Company’s market share in countries that are important for the development of NSIA and secondly, to strengthen its compliance with the requirements of the regulator of the CIMA zone.
NSIA Insurance is a leading composite insurance company driven by integrity, care, innovation, and professionalism. Its head office is in Lagos, with a strong regional presence in Abuja and an extensive network in strategic states across the country.
NSIA offers a wide range of insurance services at competitive rates to meet the changing financial, investment, and lifestyle needs of its corporate, commercial, and individual customers.
The company is a financial services group made up of approximately 3,000 employees, working in 3 banks, 2 bank branches, 21 insurance companies, 1 management and intermediation company (SGI), 1 UCITS management company, 1 real estate company, 1 reinsurance brokerage company, and 1 Foundation.
The Group is present in Côte d’Ivoire, Benin, Togo, Guinea, Guinea Bissau, Mali, Ghana, Nigeria, Gabon, Cameroon, Congo Brazzaville, and Senegal.