Nigeria was a fast growing country with a population of more than 180 million citizens, and has the biggest GDP on the continent. The acquisition of Ensure Insurance Plc gives us full access to this key insurance market in Africa and marks a major milestone for Allianz’s long-term growth strategy on the continent … it will allow us to offer the best products and services to Nigerian customers in both personal and commercial lines. That was the enthusiastic statement of Coenraad Vrolijk, the Regional CEO Africa, Allianz Group at the conclusion of its take-over of 99.03% stake holdings in Ensure Insurance from Global Oak Holdings in July 2018. The acquisition of Ensure simply followed the established trend since 2014 when AXA SA acquired majority stake in Mansard Insurance Plc for $246m, South Africa’s Liberty Holdings acquired 75 per cent stake in UNIC Insurance Plc for $12m in 2017, and Sunu Assurances Vie Cote d’Ivoire, acquired 60% of Equity Assurance Plc in 2018. A S
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