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Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance - Business - Nairaland

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Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by froz(m): 1:53pm On Sep 02, 2017
Prudential Life Insurance, a leading life insurance company in the world, has acquired majority stake in Zenith Life Insurance company in Nigeria.


A source in Zenith Life Insurance told the News Agency of Nigeria (NAN) in Lagos on Thursday that the deal was consummated in July.

He said that the deal affirmed Prudential’s commitment to Africa after its launch of businesses in Ghana and Kenya in 2014, Uganda in 2015 and Zambia in 2016.

The source said that Zenith International Insurance just introduced its new majority shareholder to the Nigerian Council of Registered Insurance brokers at a members’ evening in Lagos.

At the meeting, Mr Chuks Ingumbor, the Managing Director of Zenith Life, was quoted as saying that his company was proud to be a member of Prudential Group.

“Zenith Life is proud to be part of an international brand and is looking to deepen Insurance penetration in Nigeria by continuing its existing relationship with the broker community, while also launching its retail proposition.”

Mr Okunoren, the NCRIB President, commended Zenith Life for its level of level of service it had displayed in its dealings with brokers and look forward to working with a stronger entity.

Zenith Life was incorporated in 2001 and had N6.6 billion assets and gross premium of N3.3 billion as at December 2016.

Prudential PLC and its affiliated companies constitute one of the world’s leading financial services group with 2.4 million Insurance customers with 599 billion pounds of assets.

It was founded in London in 1848.

SOURCE: https://brandspurng.com/prudential-life-insurance-acquires-major-stake-in-zenith-life-insurance/

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Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by Nobody: 7:32am On Sep 03, 2017
Ok
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by yjgm(m): 7:37am On Sep 03, 2017
Yo
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by Franco93: 7:37am On Sep 03, 2017
Zenith Bank going international..
Ride on Jim Ovia
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by DWJOBScom(m): 7:41am On Sep 03, 2017
All these mergers and acquisitions....
We must be careful before we sell off everything. It's clear that this is the best time to buy off or acquire control stakes in Nigerian companies as it's so damn cheap to, thanks to the rape on the economy by PMB
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by MrGreenMavro: 7:46am On Sep 03, 2017
ok
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by tunjijones(m): 7:51am On Sep 03, 2017
So does it mean zenith insurance name wld be changed to prodential life insurance PLC?
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by dunkem21(m): 8:01am On Sep 03, 2017
Nice one.. Pick up a savings plan with our company and get a FREE life cover.

Save your money, save your LIFE!
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by bamasite(m): 8:10am On Sep 03, 2017
froz:
Prudential Life Insurance, a leading life insurance company in the world, has acquired majority stake in Zenith Life Insurance company in Nigeria.


A source in Zenith Life Insurance told the News Agency of Nigeria (NAN) in Lagos on Thursday that the deal was consummated in July.

He said that the deal affirmed Prudential’s commitment to Africa after its launch of businesses in Ghana and Kenya in 2014, Uganda in 2015 and Zambia in 2016.

The source said that Zenith International Insurance just introduced its new majority shareholder to the Nigerian Council of Registered Insurance brokers at a members’ evening in Lagos.

At the meeting, Mr Chuks Ingumbor, the Managing Director of Zenith Life, was quoted as saying that his company was proud to be a member of Prudential Group.

“Zenith Life is proud to be part of an international brand and is looking to deepen Insurance penetration in Nigeria by continuing its existing relationship with the broker community, while also launching its retail proposition.”

Mr Okunoren, the NCRIB President, commended Zenith Life for its level of level of service it had displayed in its dealings with brokers and look forward to working with a stronger entity.

Zenith Life was incorporated in 2001 and had N6.6 billion assets and gross premium of N3.3 billion as at December 2016.

Prudential PLC and its affiliated companies constitute one of the world’s leading financial services group with 2.4 million Insurance customers with 599 billion pounds of assets.

It was founded in London in 1848.

SOURCE: https://brandspurng.com/prudential-life-insurance-acquires-major-stake-in-zenith-life-insurance/

The name prudential alwayas reminds me of Bob proctor
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by emmanuelewumi(m): 9:20am On Sep 03, 2017
Franco93:
Zenith Bank going international..
Ride on Jim Ovia

That means Jim sold all or most of his holdings in the company.

1 Like

Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by wickyyolo: 9:31am On Sep 03, 2017
Why are international companies buying shares in Insurance company.
I hope they know what they are doing
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by NJUWithOfego: 9:39am On Sep 03, 2017
smiley
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by SalamRushdie: 11:56am On Sep 03, 2017
Jim Ovia is always offloading his acidic asset to uninformed companies
Re: Prudential Life Insurance Acquires Major Stake In Zenith Life Insurance by Originalsly: 12:49pm On Sep 03, 2017
Hmmmm.......good development. .... until we begin to see our premiums go thru the roof with less coverage for treatment and more out of pocket payments. Prudential are here because there is money to be reaped.

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