Following its earlier take-over by a new investor, Old Mutual Nigeria Life Assurance Company Limited and Old Mutual General Insurance Company Nigeria Limited have both changed name to emPLE Life Assurance Limited and emPLE General Insurance Limited respectively.
The change in name and investors have received all necessary approvals from the National Insurance Commission (NAICOM).
This transformation follows the completion of the acquisition of 100 per cent of Old Mutual’s equity in both businesses by emPLE Group.
emPLE Group is dedicated to delivering superior financial solutions and fostering long-term growth and value creation across Africa while central to emPLE’s purpose is empowering people by providing innovative financial solutions that enhance their freedom, security, and prosperity.
Old Mutual has been a prominent player in Nigeria’s financial landscape, offering comprehensive life assurance, general insurance, savings, and investment solutions to over 1.5 million customers across the country. With the acquisition finalised, the companies will now operate under the emPLE brand, reflecting their integration into the emPLE Group’s vision and strategy.
The acquisition of Old Mutual’s insurance businesses in Nigeria and their transformation to emPLE, however, marks a pivotal moment in emPLE’s journey. emPLE is poised to enhance its service offerings and customer engagement, positioning itself as the premier insurer in Africa as this rebranding allows emPLE to consolidate its strengths, expand its capabilities, and build lifelong financial partnerships with its clients.
Responding to this development, managing director of emPLE General Insurance Limited, Olalekan Oyinlade said: “The rebranding to emPLE signifies a new chapter for us. We remain steadfast in our dedication to delivering innovative insurance solutions that meet the evolving needs of our customers. emPLE, meaning empowering people, reflects our mission to protect and empower individuals and families throughout Africa, ensuring their financial security and prosperity.”
Similarly, the acting managing director of emPLE Life Assurance Limited, Rantimi Ogunleye, added that, “We are excited about this new phase. The acquisition will significantly bolster our commitment to expanding our market presence and strengthen our ability to achieve remarkable growth and enhance the value we provide to our customers.”
As emPLE embarks on this transformative journey, the company reaffirms its commitment to enhancing its operational capabilities and customer offerings. With a renewed focus on empowerment and sustainability, emPLE aims to innovate within the insurance sector by introducing cutting-edge solutions that prioritise customer needs and environmental responsibility.
emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa.
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