Transfer of a legacy » Corporate Focus » Tribune Online

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THE nation’s insurance industry was, again,  in the news last week. One of the major players in the space, First Bank Nigeria  Holdings (FBNH), announced its decision to divest 65 per cent shares in its insurance arm, First Bank Insurance (FBI),  to its South African insurance partner, Sanlam Group.

Announcing the deal,  the managements of  the two insurance giants – FBN Holdings Plc and Sanlam Emerging Markets Limited, in a statement, explained that  having completed the sale and transfer  of FBNH’s 65 per cent  shares  in FBN Insurance Limited,  to Sanlam,  the ownership of the company  had, effectively, been transferred to the South Africa’s largest …



Source: Nigerian Tribune