Wapic Insurance changes name to Coronation Insurance Plc
Wapic Insurance 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 of Nigeria, 2004 and obtaining the approval of the Corporate Affairs Commission (CAC), has changed its name to Coronation Insurance Plc. According to a letter to the Nigerian Stock Exchange (NSE), the company informed the public that pursuant to Section 31 (5) of the Companies and Allied Matters Act, it has been issued a new certificate of Incorporation by the Registrar General of the Commission evidencing the change of moniker.
In the statement signed by the company’s Secretary, Mary Agha, it urged all stakeholders to take note of the development.
As the company’s website claimed, ”Wapic Insurance plc is a leading West African full line insurance company offering a diverse range of products and services covering life, general and special risk businesses. We were founded in 1958 and licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance etc.
“Over the last half century, Wapic has garnered experience across Nigeria in risk management and underwriting, and assisting corporate entities and individuals with various classes of cover. Wapic operates two business lines; Wapic Life Assurance Limited which operates in Nigeria, and; a regional footprint in Ghana, Wapic Insurance (Ghana) Limited.
”In order to bolster the Company’s ongoing repositioning and restructuring initiatives, Wapic merged with Intercontinental Properties Limited; a development, which has significantly enhanced Wapic’s underwriting capacity and placed it amongst the top five insurance companies in Nigeria. Wapic seeks to be a truly diversified financial services institution that provides protection against all forms of insurable risks to all customer segments our aspiration for the next 5 years is to become a top three (3) insurer in Nigeria by 2023”.
Wapic has been listed on the Nigerian Stock Exchange since 1990.
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