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BY NKECHI NAECHE—-SUNU Assurance Plc on Tuesday announced to its shareholders and members of the dealing house that the National insurance Commission (NAICOM) has approved the appointment of Mazars Coker & Co as external auditors to the company.
This is contained in a notice signed by Mr. John Akujieze, company secretary to the nigerian Stock Exchange also called on all shareholders to take note of the said appointment.
SUNU Assurance Group (a Franco-phone African Insurance Group) had in January 2016 acquired 60 per cent equity in Equity Assurance plc.
The arrangement puts SUNU Assurance as the majority Shareholder of Equity Assurance plc with 60 per cent ownership while the existing shareholders have collapsed their ownership to 40 per cent. The paid up capital of Equity Assurance is now N7 billion clearly beyond the required N3 billion for a non-life general business insurance company in Nigeria.