Old Mutual completes acquisition of Oceanic Life

Old Mutual acquired from Ecobank a majority participation in Oceanic Life. Ecobank has made a strategic U-turn in order to focus on its core craft. It will, nonetheless, keep a minority stake in the capital of Oceanic Life which will be renamed Old Mutual Nigeria. A strategic partnership with Ecobank will be maintained in order to expand the insurer’s range of products.