Standard Alliance Insurance Merges With Standard Life

Standard Alliance Insurance Plc, has formally merged with its sister company, Standard Life Assurance, to become one big insurance company, underwriting life and non-life insurance businesses.


The new company to be known as Standard Alliance Insurance Plc will have a shareholders fund of N6.392bn and asset base of N13.651bn.

The Group Managing Director, Standard Alliance, Mr. Bode Akinboye, explained that “the merger was a deliberate and strategic decision by the boards of both companies to form a front line composite insurance company which will play a leading role in the nation’s insurance sector with the ultimate goal of making the company the most preferred place to invest in.”

Standard Alliance is a quoted company with its share price stuck at N50 kobo for years now.