NSIA Group Expands To 4 African Countries, Increases Market Share

NSIA Group has further increased its African imprint by acquiring four insurance subsidiaries of Sanlam Group in Togo, Gabon, Congo and Guinea.

NSIA Group is the parent company of NSIA Insurance Limited in Nigeria.

The acquisition, which is meant to strengthen its positions in West and Central Africa, began in 2021 with the purchase of Sanlam Life Insurance in Togo; Sanlam Life Insurance in Gabon; Sanlam Non-Life Insurance in Congo and Sanlam Non-Life Insurance in Guinea.

Speaking on this development, the chairman of NSIA Group, Jean K. Diagou said, for 26 years, the NSIA Group has been implementing a controlled development strategy for its activities, adding that this allows the group to establish itself permanently in each of the countries where it operates.

To him, “Today, we are strengthening our presence in Togo, Gabon, Congo, and Guinea. For all of our stakeholders, this operation heralds promising prospects.”

Similarly, the managing director of the NSIA Group, B. Janine Kacou Diagou disclosed that this  operation meets two objectives, which are;  to increase its market share in countries that are important for the development of NSIA and to strengthen its compliance with the requirements of the regulator of the CIMA zone.

NSIA Insurance Limited is a composite insurance company driven by integrity, care, innovation, and professionalism, with head office is in Lagos and a strong regional presence in Abuja and an extensive network in strategic states across the country.

NSIA Group is a financial services group made up of nearly 3,000 employees, working in 3 banks, 2 bank branches, 21 insurance companies, 1 management and intermediation company (SGI), 1 UCITS management company, 1 real estate company, 1 reinsurance brokerage company, and 1 Foundation.

The Group is present in Côte d’Ivoire, Benin, Togo, Guinea, Guinea Bissau, Mali, Ghana, Nigeria, Gabon, Cameroon, Congo Brazzaville, and Senegal.