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Nigeria’s Biggest Insurers Merge

Tangerine Life Insurance Limited, (previously known as Metropolitan Life Insurance Nigeria Limited), has, after a meticulous process, concluded its merger with ARM Life PLC. Tangerine is owned by Verod Capital, a leading private equity firm investing in growth companies across Anglophone West Africa. The key objective of the acquisition is to build a stronger, broader insurance and financial services platform, drawing on the strengths of both entities. Tangerine’s strength in the corporate market segment and ARM Life’s broad retail and annuity-based service offering. Since it was first announced in February, 2020, both organizations have embarked on a rigorous exercise to evaluate their collective strengths and address any gaps, towards building an impressive new enterprise focused on digital first. The new entity will focus on impressing and satisfying customers with quality products and a superior customer experience.

SOURCE: VENTURES AFRICA

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