Equity Assurance Plc confirms change of name to Sunu Assurances Nigeria Plc

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Having met all legal and regulatory requirements, Equity Assurance Plc has notified the general public that its name has officially changed to Sunu Assurances Nigeria Plc.

SUNU Assurances Nigeria Plc is a member of SUNU Group and has the vision to be a leading African insurance company.

The company cleared any ambiguity about its name in a notification to the Nigerian Stock Exchange (NSE) on Friday, August 16, 2019.

“It is hereby informed that Equity Assurance Plc having passed the necessary Special Resolution in line with Section 31(3) of the Companies and Allied Matters Act, CAP C20, Laws of the Federation, 2004 and obtaining the approval of the Corporate Affairs Commission have changed its name to SUNU ASSURANCES NIGERIA PLC.

“Further, it is informed that pursuant to Section 31 (5) of the Companies and Allied Matters Act, the company has been issued a new certificate of Incorporation by the Registrar General of the Commission evidencing the change of name.

“All stakeholders are requested to take note of the above information.”

SUNU Assurances Nigeria Plc was incorporated as Equity Assurance Nigeria on December 13, 1984 and was licensed to underwrite all classes of general business. The company operates with a recently increased authorized share capital and shareholders fund. The company is a corporate member of the West African Insurance Company Association (WAICA) and the Nigeria Insurers’ Association (NIA), the official umbrella of registered insurance companies in Nigeria, as well as The Africa Insurance Organisation (AIO).

The company changed its name from Equity Assurance Plc to SUNU Assurances Nigeria Plc with due approval from the shareholders and its regulator, National Insurance Commission (NAICOM). The approval was dated 29th March 2018 and a new license was issued by NAICOM.

The name change was necessitated as a result of SUNU Group’s (a foremost Pan-African Insurance Group), recent acquisition of majority stake in Equity Assurance Plc., With operations in 14 African countries and 23 office locations spanning West and Central Africa, this acquisition positions SUNU Assurances Nigeria Plc., to leverage SUNU Group’s vast network of knowledge capital, financial strength and technical resources in our quest to differentiate our offerings and service standards in the Nigerian marketplace.

Culled from BUSINESS TRAFFIC