Following the receipt of required approvals from all relevant regulatory authorities, Law Union and Rock Insurance Limited has announced a name change, and subsequent rebrand to Tangerine General Insurance Limited.
The development follows an earlier acquisition by Verod Capital Management Limited, through the Verod Capital Growth Fund III.
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With the latest move, Tangerine General joins other associated companies under the Tangerine Financial Africa brand of companies.
Tangerine comprises General and Life Insurance companies, a Pension Fund Administrator, a Microfinance Bank; and has immediate plans of entering into other closely related verticals.
Speaking on the rebrand, Chairman, Board of Directors, Tangerine General Insurance Limited, Eric Idiahi said: “The rebrand echoes the very real change occurring within Tangerine General, beginning with the increase of paid-up capital to N10 billion, in line with the position of the National Insurance Commission regarding the need for improved capitalization and capacity across the Nigerian Insurance Industry.”