The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 16 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 16 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval



Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Germany acquires 39.25 per cent equity stake in Royal Exchange
#1
Germany acquires 39.25 per cent equity stake in Royal Exchange


[/url][Image: German-government-750x375.jpg]
[url=https://thenationonlineng.net/wp-content/uploads/2019/07/German-government.jpg]




An investment fund set up by the German government has acquired 39.25 per cent in Royal Exchange General Insurance Company (REGIC) Limited, a subsidiary of Royal Exchange Plc, an insurance-based investment holding group quoted on the Nigerian Stock Exchange (NSE).

The investment fund- InsuResilience Investment Fund (IIF) was set up on behalf of German government by KfW and managed by Swiss-based Impact Investment Manager BlueOrchard Finance Limited.

In a regulatory filing yesterday at the NSE, Royal Exchange stated that the acquisition has been approved by the National Insurance Commission (Naicom), the primary regulator of REGIC.

In the statement signed by Company Secretary, Royal Exchange Plc, Sheila Ezeuko, the board of Royal Exchange stated that the proceeds of the acquisition would help REGIC to spur growth by increasing its risk capital and supporting its underwriting capacity in agriculture, thus extending its outreach to low income farmers.


With 10 decades of operations in Nigeria, REGIC is reputed as one of the largest non-life insurance companies in Nigeria. Through REGIC, IIF plans to reach out to more than one million Nigerian farmers by 2025.

Based in Luxembourg, IIF was set up by KfW, the German Development Bank, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The overall objective of IIF is to contribute to adaptation to climate change by improving access to and the use of insurance in developing countries.

IIF seeks to reduce the vulnerability of low-income households and micro, small and medium enterprises (MSMEs) to extreme weather events.  IIF is structured as a public-private partnership and it combines private debt and equity investments in two investible sub-funds as well as technical assistance and premium support. Deriving from its investment goals, IIF aims at achieving both financial return and social impact.

BlueOrchard was founded in 2001 by the United Nations as the first commercial manager of microfinance debt investments. It has since gradually expanded into many asset classes including credit, private equity and sustainable infrastructure. BlueOrchard currently has invested more than $4 billion across 70 emerging and frontier markets. BlueOrchard aims at fostering inclusive and sustainable growth while providing attractive returns to its investors.

Chairman, Royal Exchange Plc, Mr. Kenny Odogwu said REGIC has entered into strategic alliances with various stakeholders in the agricultural sector in order to drive insurance within the sector.

According to him, the group believes that agriculture and retail insurance are the future of insurance and as such, the group will continue to develop products and services to ensure that it remains relevant within that segment.

“REGIC is determined to take advantage of growth initiatives available in the industry, while leveraging on technology to expand its revenue base and stronger bottom-line,” Odogwu said.

Senior Vice President, Private Equity, BlueOrchard Finance Limited, Ernesto Costa said the history, team and commitment of REGIC to agriculture insurance make it a great addition to the firm’s portfolio.


Costa said REGIC was uniquely positioned to capture the opportunity presented by 30 million under-insured small scale farmers in Nigeria.

“We are thrilled to partner with and support REGIC with capital, technical assistance and our international network in the agriculture insurance space, with the objective to increase the resilience of small scale famers to climate change,” Costa said.

The investment will further strengthen REGIC’s capital base. It should be recalled that Naicom had recently introduced increased new minimum capital base for various insurance functions with a recapitalisation deadline of 13 months. 

Naicom raised the minimum paid-up share capital of a Life insurance company from N2 billion to N8 billion; Non-Life insurance from N3 billion to N10 billion and Composite insurance from N5 billion to N18 billion. Re-insurance companies were directed to raise their capital base from N10 billion to N20 billion.
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  Nigeria’s unclaimed share dividends hits N170bn – Securities and Exchange Commission Edoman 0 802 08-14-2021, 07:05 AM
Last Post: Edoman
  Ibom Air Acquires 2 Airbus 220-300 Series Edoman 0 680 06-14-2021, 01:50 PM
Last Post: Edoman
  MTN Nigeria Acquires Additional 800MHZ Spectrum Edoman 0 677 03-13-2021, 09:47 AM
Last Post: Edoman
  Every medium of exchange is subject to fraud and criminality - Moghalu reacts to CBN' Edoman 0 676 02-09-2021, 06:05 AM
Last Post: Edoman
  Inflation rises to 14.89 per cent Edoman 0 749 12-17-2020, 09:14 AM
Last Post: Edoman
  Half year real GDP stands at 12.18 per cent Edoman 0 758 12-02-2020, 01:57 PM
Last Post: Edoman
  Airtel announces interim dividend currency exchange rates Edoman 0 797 11-13-2020, 10:12 AM
Last Post: Edoman
  Ibom Air Acquires 6th Aircraft (Photos) Edoman 1 960 09-14-2020, 12:01 AM
Last Post: Mueeidkhatri



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise