Stanbic IBTC Holdings PLC a listed company on the Nigerian Stock Exchange, has disclosed that it is in the process of establishing a wholly-owned Life Insurance Subsidiary.
The company made this known in press release signed Chidi Okezie, Company Secretary on Friday 24 July 2020. According to the press release, Stanbic IBTC has commenced the process of seeking Regulatory approvals to establish a wholly-owned Life Insurance subsidiary to be known and referred to as Stanbic IBTC Insurance Limited.
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The company did not state the date in which the subsidiary would start operation, however the company said “the commencement of operations for this proposed subsidiary is subject to receiving all required regulatory approvals, including licensing by the National Insurance Commission.”
Written by;
Ifunanya Ikueze
