BY ZAKA KHALIQ, Lagos
Tangerine Life Insurance Limited has oncluded its merger with ARM Life Plc after a meticulous process, to become a stronger insurance brand.
Tangerine Life is previously known as Metropolitan Life Insurance Nigeria Limited and its now owned by Verod Capital, a leading private equity firm investing in growth companies across Anglophone West Africa.
The key objective of the acquisition, according to the two parties, is to build a stronger, broader insurance and financial services platform, drawing on the strengths of both entities. Tangerine’s strength in the corporate market segment and ARM Life’s broad retail and annuity-based service offering.
Speaking on this development, the managing director, Tangerine Life, Livingstone Magorimbo, said: ‘’integrating the businesses has presented us a tremendous opportunity to enhance our capabilities, improve operating efficiencies and grow our businesses.”
Similarly, former managing director at ARM Life and director at Tangerine Life, Stephen Alangbo, said: “the next phase of ARM Life’s rich retail and annuity heritage involves leveraging technology to better serve all stakeholders. Innovation is paramount in ensuring customer satisfaction in today’s business landscape.”