The Nigerian Stock Exchange has congratulated the management of Niger Insurance Plc on its 50th anniversary, assuring that the Exchange will continue to support the firm to grow stronger in the market.
Niger Insurance said this in a statement on Friday. It stated that in commemoration of the golden jubilee celebration, the NSE invited its Managing Director, Justus Uranta, to close the day's trading in Lagos recently, by ringing the closing bell on the floor of the Exchange.
It quoted the Chief Executive Officer, NSE, Mr. Oscar Onyema, as saying,”The Nigerian Stock Exchange congratulates you on the 50th anniversary of Niger Insurance Plc. We like to commend your board, management and staff for working assiduously over the years towards building your company to its current level. At the exchange, we are keen to support you in achieving even greater success.”
He explained that the event was aimed at giving the Chief Executive Officer of Niger Insurance the opportunity of ringing the closing bell on the trading floor of the NSE, thereby giving more visibility to the insurance firm.
Uranta stated that, having weathered the storm in the business environment prevailing in Nigeria for the past 50 years, Niger Insurance had evolved over time to be one of the most sought after insurance providers in the country.
He stressed that 50 years was a milestone that needed to be celebrated, considering the fact that many of the companies that commenced business in the country since then were no longer in operation.
Niger Insurance, he maintained, had not only remained afloat over the years, but had also carved a niche for itself in its area of business and growing stronger every day.
He said, “From a small office on Lagos Island, the company can now boast of assets including magnificent buildings and office complexes spread all over the federation. Besides, only a few insurance companies can boast of a branch network comparable to that of Niger Insurance plc in Nigeria.
“Our enviable human and capital resources put the company in a class of its own. This is not forgetting the goodwill Niger Insurance continues to enjoy till date,” he added.
Established in 1962, Niger Insurance currently has three subsidiaries including NIC Properties Limited; NIC Securities and Trust Limited; River Plaza & Shopping Mall Limited. The premium income being generated by the underwriting giant has been on a steady increase since it commenced operations.
Niger Insurance is today one of the major players in the nation's capital market whose activities have contributed in no small way to shaping the activities of the market, the statement added.
In view of the company's level of compliance with market requirements and information disclosure, the management of NSE had earlier in the year commended the 50-year old underwriting firm for strictly complying with the stipulated rules of the capital market for the benefit of all stakeholders, according to the statement.
