With the completion of
The company's paid up share capital increased from N6.1 billion to N11.3 billion following the conclusion of the private placement phase of its recapitalisation with an uptake of 38.83 per cent of its shares by the two strategic investors.
The investors are
The company had earlier received shareholders' approval to increase its authorised share capital to N18 billion through various instruments to meet the new minimum capital base for a composite insurer based on the
At the Extra-Ordinary General Meeting (EGM), which held in
The company's Managing Director/Chief Executive Officer, Mr.
He said: 'Increasing our capital base, will enable us strengthen our balance sheet, provide additional capacity to underwrite more risks and deliver better returns to our shareholders.
'Our history of stability and reliability has earned us a place of admiration in the minds of our esteemed customers. We are putting structures in place to continuously delight and excite them with innovative products and superior service experience.
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