Nem Insurance (Ghana) Limited acquired Regency Alliance Insurance Limited from Regency Alliance Insurance Company Plc (NGSE:REGALINS) on August 15, 2016. After the merger, the Regency Alliance Insurance Limited will be named as Regency-NEM Insurance Ghana Limited. As of October 11, 2016, Regency Alliance Insurance Limited was renamed as RegencyNem Insurance Ghana Limited. For the year ended 2015, Regency Alliance reported total assets of GHS 16 million, total common equity of GHS 6.3 million and net income of GHS 0.56 million. Regency Alliance is expected to provide the first Managing Director of the new company while NEM Insurance will take the Executive Director and Head of Finance positions. The deal is subject to meet the regulatory minimum capital requirement of the National Insurance Commission. The approval has been received. Nem Insurance (Ghana) Limited completed the acquisition of Regency Alliance Insurance Limited from Regency Alliance Insurance Company Plc (NGSE:REGALINS) on August 15, 2016.