GERMANY’S ALLIANZ BUYS NIGERIAN INSURER FOR $35M
source : http://www.eyesoflagos.com/2017/08/germanys-allianz-buys-nigerian-insurer.html

Germany’s Allianz plans to pay $35 million for 98 per cent stake in Nigerian insurer, Ensure Insurance, in a push for growth in Africa, where many people are uninsured.
Foreign insurers are banking on growing premiums as the continent develops its infrastructure and a consumer class demands protection from risk.
Eyes Of Lagos report disclosed that Allianz said that it would acquire the stake from UK-based holding company Greenoaks Global Holdings.
Ensure Insurance offers life and non-life cover to businesses and retail clients and generated 11 million euros ($13 million) in gross premiums last year.
The Allianz group has operations in 16 African countries and views the Ensure acquisition as an opportunity to tap into Nigeria’s strong demographics and economy.
“The transaction gives Allianz access to the fifth-largest insurance market in Africa and is in line with our strategy to capture long-term growth opportunities on the continent,” said Allianz Africa spokeswoman Bettina Sattler.
“It is also a market with significant entry barriers, which is another reason why this acquisition is a great opportunity for us. Entering Nigeria with a team that knows the market was essential for us.”
Allianz expects the acquisition to close this year and said it intends to retain Ensure’s management team.
The German insurer plans to focus on property and casualty insurance, particularly underwriting industrial and speciality risk in the energy sector as well a large complex risks such as infrastructure.
“In the past two years, we have been quite visible in Nigeria, sharing our risk-management expertise in power, oil and gas, as well as cyber insurance,” Sattler said.
“Now that we have a company locally … the retail sector is another growth sector for us.”
Allianz follows British insurer Prudential which last month bought a majority stake in Nigeria’s Zenith Life to gain access to the African country’s fast-growing insurance market.

See money...5000000$ will be okay 4 me sha I will pay back later....wait oooo is this FTC real...are they still taking it serious.

Allianz ko, Bayern Muchen ni. Me that is Insured by the Lord

You'd first have to teach insurance from the kindergarten level up to the tertiary levels...

Good move...hope this would bring some quota of stability to the economy.





Cheeers

Good one for Allianz of Allianz Arena... FTC shaa

Sensational reportage here; 'plans to buy' is what is contained in the piece whereas the topic says 'buys'.

Hmm

is alright

That's good, but you guys can do better!

Another's failure another's fortune

Seeing this amount of money and what it can actually do keeps giving me an idea of how the frog-eye thief called Diezani and her cohorts/Oga really milked us in this country

Bad investment

Ops them never buy am nuh...... Ur headline contradicts ur first paragraph

Good move. We need their much needed expertise but watchful if they start milking us through any expatriate quota

Another low

Ok that's good

wickyyolo:
Bad investment

Childish talk.
I can understand if you cant comprehend what this is all about because it's not tribal or indomie discussions.

Insurance still remains a totally untouched portion of the financial sector in Nigeria. Most Nigerians still don't see the point of having an insurance and most still don't even know how it works. If these foreign players like Allianz here,with their high level of expertise can get more people to see why they should buy into insurance,then they are most welcome to do business here.

Wizkhalifa2:
Allianz ko, Bayern Muchen ni. Me that is Insured by the Lord

Mi2

Sanchez01:
Sensational reportage here; 'plans to buy' is what is contained in the piece whereas the topic says 'buys'.

No mind am;

Sanchez01:
Sensational reportage here; 'plans to buy' is what is contained in the piece whereas the topic says 'buys'.

That's how they role in here,man. Misleading headlines every time.

To boost economic growth or to boost their pockets? W

Allianz Vs Ensur

Sanchez01:
Sensational reportage here; 'plans to buy' is what is contained in the piece whereas the topic says 'buys'.

That's is the Standard caption world over. The tense 'buys', grammatically fits 100% into that title. No medium expects you to conclude on the titles.
This has been for decades. News headlines are not for literary lazy and ignorant folks

farem:


That's is the Standard caption world over. The tense 'buys', grammatically fits 100% into that title. No medium expects you to conclude on the titles.
This has been for decades. News headlines are not for literary lazy and ignorant folks

In your mind you have made a lot of sense. Sensationalism, aka 'Yellow journalism' is considered a threat to journalism itself because it is bias and often riddled with exaggeration, which negates the ethics of journalism.

The tense 'buys' in this regard is clearly perverted as the action is not completed. Hence, the to-infinitive 'to buy' would have clearly defined the entire piece. Besides, while print media is allowed to borrow forms and literary devices, it is clearly different and SHOULD ALWAYS BE LITERARY, save for cases when literature are featured in pages of prints.

No medium expects you to conclude on the titles.

Where on God's earth did you pull this from

Wizkhalifa2:
Allianz ko, Bayern Muchen ni. Me that is Insured by the Lord

"Insured by the Lord" ....
The sort of thing a typical African Nigerian will say.
Checked your profile: yup. Nigerian.

It's almost 2018, move away from that sort of thinking. Even the bible points out that a watchman is required to watch the property before the Lord will watch over all.

mansakhalifa:
Insurance still remains a totally untouched portion of the financial sector in Nigeria. Most Nigerians still don't see the point of having an insurance and most still don't even know how it works. If these foreign players like Allianz here,with their high level of expertise can get more people to see why they should buy into insurance,then they are most welcome to do business here.

Superstition/religion prevent us from planning well. Also need for short cut every time.
Tell someone to do life insurance and they will ask if you are planning to kill them.
But I do not know anybody with kids/family walking around in Europe without one.

Very shocked to see $35m mentioned.

We should be talking of hundreds of millions of dollars.

A very untapped market indeed.

Nackzy:
See money

35 million is like chicken change for Alliance group

Jagabanmonerry:
Good one for Allianz of Allianz Arena... FTC shaa

35 million
quota
stability
which economy
Liberia?