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Nigeria Insurance

Nigeria Insurance

Description/Service

Nigeria Insurance   Motor, Fire burglary, marine, Fidelity guaranty and more.

 

Law Union & Rock is one of the first generation Insurance Companies to open office in Nigeria six decades ago. We began operations in Nigeria in 1951 as a Chief Agency when the late Sir Mobolaji Bank-Anthony held the power of Attorney for Royal International Insurance Holding, a U.K leading Insurance Company [the first Nigerian to have such authority].

In 1957, the company acquired Branch status and continued to operate as a Branch of Royal International Insurance Holding (a subsidiary of RSA Insurance group Plc, United Kingdom, transacting all major classes of Insurance businesses until June 17, 1969 when it became incorporated locally in compliance with the Companies Act of 1968.

Law Union & Rock Ins. Plc is now a fully indigenous public quoted Insurance Company having met the N3 Billion Capital Base and recertified by NAICOM to continue to operate as a General Insurance Business Underwriter.

In line with the CBN directives instructing all deposit banks to divest from all their non-banking investments or evolve holding company structures, Law Union & Rock Insurance was acquired in 2012 from Skye Bank Plc by a consortium of investors comprising ACAP iClass LLP, an insurance dedicated private fund managed by Alternative Capital Partners (ACAP) and Swede Control Intertek. This has led to the ongoing transformation in the organization.

Law Union & Rock Insurance Plc has over N7billion in Total Assets and Shareholders Fund in excess of N4billion.

As part of the organizations transformation and restructuring process, Law Union & Rock Insurances business is structured using the sectorial model of operation. This is to enable the organization align its offerings to the unique needs of the various sectors of the Economy.

The organization has also adopted various E-payment platforms to enable clients pay easily and avoid the rigors previously associated with premium payments. Customers can either pay in any bank of their choice, through Quickteller, POS terminals or Webpay.

All this is in line with our strategic initiative to create value for our stake holders, improve customer intimacy and achieve operational excellence.

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