• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Saturday, September 6, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Niger Runs With A Tripod: Merger, Restructuring And Claims Settlement

Nwanne Ikemefune by Nwanne Ikemefune
February 7, 2021
in Insurance
0 0
0
Niger Runs With A Tripod: Merger, Restructuring And Claims Settlement
0
SHARES
204
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Niger Insurance Plc, is forging ahead with merger option, which the board chairman, Stephen Dike, said at the annual general meeting in Lagos, is in top gear. He did not however, elaborate. Also racing together, is restructuring and coordinated efforts to settle outstanding claims.

Resolute on better days ahead, the chairman board of directors, Dike, expressed confidence at the meeting, Wednesday (January 22), that the tripod system adopted by Niger for another season of brand prominence, resonates with the philosophy that nothing assures like Niger’s financial protection. Dike, who noted that the harsh economic strings hard affected the company’s financials, commended the shareholders for their “tremendous support towards the recapitalisation efforts” which he said, “have since gained traction with the share reduction exercise.”

In the line of efforts to douse the hiccups despite the liquidity challenges, the managing director, Edwin Igbiti, stated that the firm has been aggressive in settling delayed outstanding claims and this was achieved by its efforts to unlock capital through the restructuring of its investment portfolio while divesting from under performing asset classes. “Consequently, the company was able to pay claims and benefits totalling N1.7bn in FY 2019 on top of the N1.6bn paid in FY 2018,” he stated.

Igbiti also, put in focus changes that began in 2019 to optimise its business and leadership to align with the company’s new strategic direction and drive its transformation objectives. With hindsight, he said: “These changes were necessary to boost growth, simplify our ways of working, improve operational efficiency and resilience. We now have greater focus, commercial vigour and accountability throughout the organisation – these fundamentals will help us build momentum for current and future earnings growth.”

Undaunted by harsh economic footprints, Igbiti exudes confidence: “Notwithstanding the economic headwinds and legacy issues facing the company, we are committed to the swift turnaround and transformation of this great company.”

Scaling the financial performance, the board chairman, Dike, said the the group reported challenged performance and hinged expected better results on restructuring already taking positions in the company.

The company’s announced chronicle of performance, he noted, was below the target of achieving growth in excess of the rate of inflation. Still professing confidence on the trio deal-making: merger, restructuring and claims settlement, Dike wants the company’s stakeholders to note that the tripod system in place is the guarantee for the lift-off Niger needs now to orbit the insurance space it previously occupied as a market leader. He therefore, promised shareholders hocked to the virtual meeting, that the company is on the road to rebound, and declared, “we assure our shareholders that effort is being made to turn around and strengthen the financial position of the company.”

Previous Post

Pension Fund Hits N12.29tr

Next Post

Insurers Cringe As Covid-19 Tops Risks, Others Follow

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation
Insurance

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

September 4, 2025
Financial Inclusion, 150 Informal Workers Financial Literacy Upgraded by Heirs Insurance 
Insurance

Heirs Insurance Group’s Life and General Businesses Receive ‘A1’ Ratings from Agusto & Co

September 4, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool
Insurance

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
Next Post
Risk Analysis

Insurers Cringe As Covid-19 Tops Risks, Others Follow

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

September 4, 2025
Financial Inclusion, 150 Informal Workers Financial Literacy Upgraded by Heirs Insurance 

Heirs Insurance Group’s Life and General Businesses Receive ‘A1’ Ratings from Agusto & Co

September 4, 2025
Preferred PenCom Logo

PenCom Raises Concern Over Lingering Sectoral Challenges, Uneven Development And Antidote Defying Imbalances in Pension Industry

September 3, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

September 1, 2025
SanlamAllianz, Leadway Others Hold IMT 4.0 High

SanlamAllianz, Leadway Others Hold IMT 4.0 High

August 30, 2025
PenOp

Jolted by Global Prevalence of Liver Disease PenOp Hosts Session on Damage, Prevention and Management

August 29, 2025
Preferred PenCom Logo

PenCom Expresses Concern Over Absence of Balanced Growth in Expansion of Micro Pension Plan

August 29, 2025
CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

August 27, 2025
West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

August 26, 2025
ADVERTISEMENT

Recent News

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

September 4, 2025
Financial Inclusion, 150 Informal Workers Financial Literacy Upgraded by Heirs Insurance 

Heirs Insurance Group’s Life and General Businesses Receive ‘A1’ Ratings from Agusto & Co

September 4, 2025
Preferred PenCom Logo

PenCom Raises Concern Over Lingering Sectoral Challenges, Uneven Development And Antidote Defying Imbalances in Pension Industry

September 3, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

September 1, 2025
SanlamAllianz, Leadway Others Hold IMT 4.0 High

SanlamAllianz, Leadway Others Hold IMT 4.0 High

August 30, 2025
PenOp

Jolted by Global Prevalence of Liver Disease PenOp Hosts Session on Damage, Prevention and Management

August 29, 2025
Preferred PenCom Logo

PenCom Expresses Concern Over Absence of Balanced Growth in Expansion of Micro Pension Plan

August 29, 2025
CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

August 27, 2025
West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

August 26, 2025
Buyer Power Grows Ahead of 2026 Reinsurance Renewals

Buyer Power Grows Ahead of 2026 Reinsurance Renewals

August 25, 2025
Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

August 25, 2025
IMT 4.0 Conference Secures NIA Chairman Speaking Participation

IMT 4.0 Conference Secures NIA Chairman Speaking Participation

August 22, 2025
NAICOM logo

NAICOM Launches Allcomers Enhanced Website For Transparency and Efficiency

August 21, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

Guinea Insurance Plc Approves Recapitalisation Commits to Transformation

September 4, 2025
Financial Inclusion, 150 Informal Workers Financial Literacy Upgraded by Heirs Insurance 

Heirs Insurance Group’s Life and General Businesses Receive ‘A1’ Ratings from Agusto & Co

September 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In