The Managing Director/CEO of Law Union and Rock Insurance Plc, Mr. Ademayowa Adeduro, has said the company is set to meet recapitalisation directive stipulated by the National Insurance Commission.
Adeduro revealed this recently in Lagos in a media interactive session.
Commenting on the company’s recapitalisation plans, he said the firm has been able to garner enough investors due to its pedigree in terms of corporate governance, management capacity and its rich historical heritage.
Speaking further, he disclosed that its company has been approached for mergers deals however, the plan and desire of Law Union and Rock is to stand alone. He added that the financials of the company was more robust and its performance stronger than ever, and there was a significant development in terms of value addition in the system.
“As I speak, we are concluding our recapitalisation process in the next couple of months because we have been able to attract investors who have seen the pedigree of this company in terms of corporate governance, the capacity of the people managing the company, and the history behind the company.
“Our plan is that the name Law Union and rock will remain standing. Other insurance companies have already been coming because they have already seen our balance sheet that we are close to it.
“Our financials are looking more robust, our performance better than ever before and very soon the unaudited accounts will be published. We are excited that there is a significant value addition in the system”, Adeduro stated.