Acquisition: NSIA Group Takes Over Four Insurance Subsidiaries Of SANLAM Group

By Bisi Bamishe

NSIA Group to which NSIA Insurance LTD belongs, recently acquired four (4) insurance subsidiaries of SANLAM Group. Born from a desire to strengthen its positions in West and Central Africa, NSIA Group began this acquisition in 2021with the following subsidiaries of SANLAM group,
• Sanlam Life Insurance in Togo;
• Sanlam Life Insurance in Gabon;
• Sanlam Non-Life Insurance in Congo and;
• Sanlam Non-Life Insurance in Guinea.

According to the Chairman of NSIA Group, Jean K. DIAGOU: “For 26 years, the NSIA Group has been implementing a controlled development strategy for its activities. This is what allows us to establish ourselves permanently in each of the countries where we operate. Today, we are strengthening our presence in Togo, Gabon, Congo, and Guinea. For all of our stakeholders, this operation heralds promising prospects.”

“This operation meets two objectives: to increase our market share in countries that are important for the development of NSIA and to strengthen our compliance with the requirements of the regulator of the CIMA zone”, stated B. Janine Kacou Diagou, Managing Director of the NSIA Group.

NSIA Insurance Limited is a leading composite insurance company driven by integrity, care, innovation, and professionalism. The head office is in Lagos, with a strong regional presence in Abuja and an extensive network in strategic states across the country. NSIA Insurance offers a wide range of insurance services at competitive rates to meet the changing financial, investment, and lifestyle needs of its corporate, commercial, and individual customers.

NSIA Group is a financial services group made up of nearly 3,000 employees, working in 3 banks, 2 bank branches, 21 insurance companies, 1 management and intermediation company (SGI), 1 UCITS management company, 1 real estate company, 1 reinsurance brokerage company, and 1 Foundation. The Group is present in Côte d’Ivoire, Benin, Togo, Guinea, Guinea Bissau, Mali, Ghana, Nigeria, Gabon, Cameroon, Congo Brazzaville, and Senegal.