BY NKECHI NAECHE-ESEZOBOR–The Board and Management of Great Nigeria Insurance Plc, on Wednesday refuted claims that it’s annuity business has been acquired by a rival Insurance company.
According to statement released by the company to BusinessToday Online, that the false publication also claimed that “GNI Plc and Tangerine Africa Annuity businesses have been acquired by this particular Insurance Company.”
The company frawned at the development while noting that is a calcuted attempt by the said company to destroy their business.
It said ” this development is a crude attempt by an unscrupulous competitor to demarket our brand and shrink our share of the Annuity Insurance market.
It added that “In the last five (5) years, our Annuity Insurance portfolio has grown steadily by over 14,845% and our Annuitants have been enjoying value added services.
“In view of the foregoing there is no basis for transferring our annuity business to another company in the industry. We want to state emphatically that GNI Plc has not and does not intend to sell-off its annuity business Portfolio, neither does it intend to partner with any Insurance company or companies in the Annuity insurance market.
“This release therefore serves as a categorical disclaimer that our Company is not in any kind of partnership or merger discussion with any Insurance company regarding our Annuity Insurance Portfolio.
“We call on all our intermediaries and Clients to disregard any information regarding the transfer or acquisition of GNI’s Annuity Insurance Portfolio.
It further assured that Great Nigeria Insurance is poised to continue in its well known tradition of delivering qualitative insurance services to its esteemed customers.