{"id":21933,"date":"2020-04-16T11:27:42","date_gmt":"2020-04-16T10:27:42","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=21933"},"modified":"2020-04-16T11:27:42","modified_gmt":"2020-04-16T10:27:42","slug":"fbn-moves-to-divest-from-insurance","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/fbn-moves-to-divest-from-insurance\/","title":{"rendered":"FBN moves to divest from Insurance"},"content":{"rendered":"\n<p><\/p>\n\n\n<p>FBN Holdings has officially notified the Nigerian Stock Exchange (NSE) of on-going discussions with its partner Sanlam Emerging Markets to divest 65 per cent equity in FBN Insurance (FBNI) Ltd.<\/p>\n\n\n<p>The company stated this in a formal notice sent to the Exchange and signed by the Company Secretary, Mr Seye Kosoko, on Wednesday.<\/p>\n\n\n<p>FBN Holdings Plc, in the notice, notified the Exchange and the investing public of its ongoing plan to sell its remaining 65 per cent equity in the company to Sanlam, the owners of 35 per cent equity in FBNI.<\/p>\n\n\n<p>The company noted that the move was in line with the \u201cGroup\u2019s strategic objectives,\u201d adding that it was currently engaging the regulators for the necessary approvals.<\/p>\n\n\n<p>FBN Holdings, however, assured the Exchange that further announcement would be made when the transaction was concluded.<\/p>\n\n\n<p>\u201cWhen completed, the transaction will involve the transfer of FBN Holdings\u2019 65 per cent stake in FBN Insurance Limited to Sanlam,\u201d it stated.<\/p>\n\n\n<p>When concluded, FBNI would be 100 per cent owned by South African-owned Sanlam.<\/p>\n\n\n<p>The notification to the NSE is one of the statutory steps required of listed companies when considering a market-sensitive decision or transaction.<\/p>\n\n\n<p>FBNI was founded as a Life Insurer in 2010 with a vision to be Nigeria\u2019s first choice in risk underwriting, wealth preservation and financial security.<\/p>\n\n\n<p>The company has grown to become one of the best insurance companies in Nigeria with a subsidiary that undertakes general insurance business offering a broad range of investment and risk underwriting products.<\/p>\n\n\n<p>It was awarded the \u2018Best Life Insurance Company in Nigeria\u2019 for the past four years consecutively.<\/p>\n\n\n<p>Sanlam Group has been associated with and is the other shareholder of FBNI since it was established in 2010.<\/p>\n\n\n<p>Sanlam with over 100 years of experience and expertise in Insurance, Asset Management, Wealth Management and Investments is one of the leading Insurance companies in Africa.<\/p>\n\n\n<p> <strong>By<\/strong> <strong> Chris Ndibe<\/strong>  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>FBN Holdings has officially notified the Nigerian Stock Exchange (NSE) of on-going discussions with its partner Sanlam Emerging Markets to divest 65 per cent equity in FBN Insurance (FBNI) Ltd. The company stated this in a formal notice sent to the Exchange and signed by the Company Secretary, Mr Seye Kosoko, on Wednesday. FBN Holdings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FBN moves to divest from Insurance - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/fbn-moves-to-divest-from-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBN moves to divest from Insurance - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"FBN Holdings has officially notified the Nigerian Stock Exchange (NSE) of on-going discussions with its partner Sanlam Emerging Markets to divest 65 per cent equity in FBN Insurance (FBNI) Ltd. The company stated this in a formal notice sent to the Exchange and signed by the Company Secretary, Mr Seye Kosoko, on Wednesday. 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