Merger between three companies

In an effort to deal with the recapitalisation of the sector, Admiral Insurance Company Limited, Atlantic Insurance Company Limited and Elmac Assurance Limited (Nigeria), have, through an agreement protocol, decided to merge in a new entity named Equinox Assurance Nigeria Limited. The three partner companies have reported a total premium volume worth about 2 billion NGN (15.6 million USD). It is the first merger deal since the start of the recapitalisation campaign.