Vanguard News
Allianz injects capital into Nigeria operations
On
By Rosemary Iwunze
The management of Allianz Nigeria has announced an increase in the company’s authorized share capital to N18.5 billion from N10 billion following the creation of 17 billion ordinary shares.
In a statement, the company said that the shares have been issued and allotted in favor of Allianz Africa Holding GmbH the holding company for Allianz Nigeria.
The company also said that as part of a wider restructuring of the business, Allianz Nigeria had, in December 2020, reconstituted its shareholding to make Allianz the sole investor, and further streamlined its business operations by taking the company private, now operating as Allianz Nigeria Insurance Limited.