AfricInvest to acquire stake in Royal Exchange General Insurance Company (REGIC) Nigeria

Royal Exchange General Insurance REGICAfricInvest, a pan-African private equity firm with 1.9 billion USD of funds raised and more than 170 investments in several African countries, has acquired a minority stake in Royal Exchange General Insurance Company (REGIC), one of Nigeria's leading non-life insurers.

No information on the underwritten percentage and the amount paid for this transaction was disclosed.

The investment was made through the Financial Inclusion Vehicle (FIVE) fund managed by AfricInvest, through a capital increase.

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