Ensure Now a Member Company of Global Insurance Giant, Allianz SE
Mr Coenraad Vrolijk, Regional CEO Africa of Allianz SE
One of the world’s leading insurers and asset managers, the Allianz Group, has increased its presence in African markets with the recent consummation of its acquisition of 99.03 percent shares in Ensure Insurance Plc.
For now, the company will operate in Nigeria as Ensure – A Company of Allianz.
Explaining the rationale behind the acquisition, Mr Coenraad Vrolijk, Regional CEO Africa of Allianz SE noted that this is another step by the Group to increase its presence in the “fast growing” African markets
“Having identified Africa as one of the future growth markets, we continue to invest step-by-step in the continent. The investment in an insurance Company in the largest growth market of Africa, namely Nigeria, is a major milestone for Allianz’s long term growth strategy in Africa,” Mr Vrolijk enthused
The Allianz Group believes that Ensure Insurance Plc is one of the most innovative and fast-growing insurance companies in Nigeria. In recent years, the Nigeria core insurance regulator, NAICOM, has tightened regulation, campaigning for best practices locally. Consequently, there is increased need for insurance given the growth of the economy and the demographic mix. Mr Coenraad is confident that this acquisition will enable the Allianz Group to grow its business and insurance footprint in the dynamic Nigeria market by joining forces with an existing player that has a solid financial position and strong local expertise.”
In turn, Ensure Insurance Plc will now metamorphose into a global player with unfettered access to insurance knowledge and global best practices, technical expertise, technology in the vanguard and the colossal brand equity of the Allianz Group. Ensure staff will benefit from training, work exchange programmes and career advancement while clients will enjoy innovative products and optimum service delivery.
Ensure provides simple, accessible, relevant and affordable products to the retail segment of the industry and a bedrock of highly secured reinsurance facilities and strong technical competence for its corporate customers.
