Niger Insurance Plc has obtained shareholders’ approval to restructure its insurance coverage enterprise into common, life and enterprise insurance coverage, with every phase to be structured as a separate authorized entity.
This is a component of the resolutions handed at the fiftieth Annual General Meeting of Niger Insurance Plc., held on twentieth of January, 2021 at Peninsula Hotel in Lekki, Lagos.
The resolution to restructure the firm is in a bid to make it extra environment friendly and worthwhile to stakeholders, particularly as efforts are geared in direction of overturning a loss of about 1,1723.2% Year-on-Year, earlier made by the firm in its final reported monetary assertion, Q2, 2020, as reported by Nairametrics.
Other key choices reached at the fiftieth AGM embody;
The re-appointment of Mr Ebi Enaholo and Mrs. Olufemi Owopetu as Directors of the firm.Acceptance of the offered monetary assertion for the 12 months ended December 31, 2019 and the report of the audit committee, administrators and auditors.Directors have been licensed to repair the remuneration of the auditors.Directors have been licensed to appoint exterior auditors to exchange retiring auditors of the firm.The appointment of 4 people as members of the audit committee.A call to restructure the firm’s enterprise capital was additionally reached.
In case you missed it: The shareholders of Niger Insurance Plc in the forty ninth Annual General Meeting authorised the resolution by the firm’s board to elevate further capital to the tune of N15 billion, in a bid to meet the revised recapitalization targets for common and life insurance coverage corporations.
What it is best to know: The House of Representatives had in December 2020 directed NAICOM to droop the necessary deadline for the first section of 50%-60% of the minimal paid-up share capital for insurance coverage and reinsurance companies.
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