Niger Insurance increases its capital

The local market’s giant, Niger Insurance, has proceeded on February 13 to an increase of its capital by 1.34 billion NGN (8.362 million USD) through the issuance of new shares. The funds collected will be designed mainly for the rehabilitation of a property located at Ikeja Business District, for the restructuring of the investment portfolio, for capital consolidation and for the risk retention capability. Niger Insurance also wishes to proceed to an reshuffle of its distribution channels as well as to the renewal of its computer facilities.