We plan to conclude merger arrangements with Postal Life and General Insurance Company Limited (PL&G), in which we have majority shareholding.
The objective of this merger will be to consolidate IGI's equity in PL&G thereby creating a unified insurance institution well positioned as a leader in the Post-consolidation era. This merger will result in significant synergies to be created by a more efficient utilisation of resources and the elimination of hitherto duplicated administrative and marketing efforts.
We also intend to identify and enter into merger arrangements with other smaller and profitable insurance companies, whom we see as being well aligned with our future strategic plans.
With our present network of 24 branches, we have the second largest branch network in Nigeria. We plan to further enhance this spread by identifying and executing merger arrangements with insurance companies who have a presence in locations where we are currently not situated. |
