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More Foreign Investors Eye Acquisitions in Nigeria’s Insurance Sector

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Strong indications have emerged that more foreign investors are eying acquisitions in insurance sector by investing in companies they perceive can fetch significant returns.

Some market operators, who have links to insurance sector, told THISDAY that following the low prices of some insurance stocks and the recent acquisition of 29.9 per cent stake in NEM Insurance by Advanced Finance and Investment Group, more foreign investors are making enquiries about the fundamentals of firms in the sector.

According to a stockbroker, who said his company is currently facilitating investment talks between foreign investors and a Nigerian insurance firm, the outlook for the sector is positive.

However, THISDAY checks showed that such discussions are ongoing, acquisitions may not crystalise until the second half of the year.

THISDAY, January 30, 2019

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