Endura Investment Global Limited has successfully acquired 24% controlling shareholding in Standard Alliance Insurance Plc, following the divestment and exit of the former strategic and controlling shareholders, Standard Alliance Investment Limited led by the founding Vice Chairman Olorogun O’tega Emerhor, OON, from the company.
In a statement signed by Mr. Nathaniel Ibitowa, a director of Endura Investment Global Limited, it said regulatory approvals have been granted by the National Insurance Commission (NAICOM), the insurance regulatory body and the Nigerian Exchange (NGX). The transaction became effective on August 19, 2024.
The statement further said that “as part of our turnaround strategy, Standard Alliance Insurance Plc has a new Board of Directors with Mr. Akinlolu Iroko, FCIoD as Chairman. Other directors are: Mr. Nathaniel Ibitowa, Mr. Rohan Fernando, Alhaji Musa Lawan, Mr. Paulinus Offorzor, Managing Director; Mr Tayo Amore, Executive Director, Technical and Mr. Michael Owope, Chief Financial Officer.
Ibitowa said the new investors “are dedicated to rebranding, recapitalising and transforming Standard Alliance Insurance Plc. Endura is commitment to transparency, accountability, and customer satisfaction that will ensure the protection of policyholders, Brokers, Employees, regulators, shareholders and those of other key stakeholders’ interests.
Ibitowa said Endura is actively engaging relevant regulators in resolving all outstanding issues in respect of Standard Alliance Insurance Plc, injecting fresh capital and settle outstanding claims to policyholders
