Finance

Law union & Rock renamed Tangerine general insurance

Law Union and Rock Insurance Limited has changed its name to Tangerine General Insurance Limited, following the receipt of the required approvals from all relevant regulatory authorities.

The company said this in a statement on Tuesday titled ‘Law Union & Rock Insurance Limited announces change of name to Tangerine General Insurance Limited’.

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The statement said the development was in line with its earlier acquisition by Verod Capital Management Limited through the Verod Capital Growth Fund III.

 It said with the move, Tangerine General joined other associated companies under the Tangerine Financial Africa brand of companies.

“The rebrand echoes the very real change occurring within Tangerine General, beginning with the increase of paid-up capital to N10bn, in line with the position of the National Insurance Commission regarding the need for improved capitalisation and capacity across the Nigerian insurance industry,” it said.

The Chairman, Board of Directors, Tangerine General Insurance, Eric Idiahi, said, “We are excited by the continued progress in our journey towards building a sound, robust and unique financial services group.

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“We eagerly anticipate the formal launch of the Tangerine brand in the near term and are working to realise our vision for all our stakeholders.”

Punch

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