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Nigeria: Niger Insurance to Raise N6 Billion From Market
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Leadership (Abuja)
18 December 2007
Posted to the web 18 December 2007
Ngozi Oduah
Niger Insurance Plc has set a new strategic plan for it to raise additional N6 billion from the capital market in the first quarter of next year as part of its plans to be a global player in the industry.
Managing director of the company, Mr J.C Uranta, who disclosed this at the company's 45th anniversary media briefing in Lagos, said that this was part of its effort to strengthen the company and to take opportunities in the labour market.
He said that the major reason why the Niger Insurance is planning to source for more capital is to enable it keep on moving to avoid remaining at the periphery.
Uranta stated that the company which is operating under four regional offices has 36 branches and it is also making moves to increase it to 50 as part of measures to provide insurance services to all parts of country especially the rural areas.
Apart from expanding its branches nationwide, Niger Insurance is intending to embark on branch expansion, adding that the management is currently studying other countries to know where people appreciate the value of insurance service before investment.
According to him, "one of the main focus of the management of the company "is to strategically align with both local and foreign bodies."
Uranta, however, pointed out that the company has over the years witnessed a lot of transformation as it now ranks among the first top four insurance companies in the industry.
He further stated that the company has concluded plan to honour 77 members of the staff who have meritoriously served the company for 10, 15, 20 and 25 years respectively.
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On the future plans of the company, he said that the company is ready to take the bull by the horn by ensuring continuity in the training and retraining of the workers so as to be one of major underwriters in the industry.
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