Cecilia Osipitan, MD/CEO GNI

By Ngozi Onyeakusi—Great Nigeria Insurance Plc has debunked an allegation saying that its Annuity Insurance business has been acquired by a rival insurance company.
According to GNI in a statement made available to SUPERNEWS in Lagos the company statement;

“The attention of the Board and Management of Great Nigeria Insurance Plc has been drawn to a publication making the rounds that Great Nigeria Insurance Plc (GNI)’s Annuity Insurance business has been acquired by a rival insurance company.

The said publication is to the effect that GNI Plc and Tangerine Africa Annuity businesses have been acquired by this particular Insurance Company.

This development is a crude attempt by an unscrupulous competitor to demarket our brand and shrink our share of the Annuity Insurance market.

In the last five (5) years, our Annuity Insurance portfolio has grown steadily by over 14,845% and our Annuitants have been enjoying value added services.
In view of the foregoing there is no basis for transferring our Annuity business to another company in the industry. We want to state emphatically that GNI Plc has not and does not intend to sell-off its Annuity business Portfolio, neither does it intend to partner with any Insurance company or companies in the Annuity insurance market.

This release therefore serves as a categorical disclaimer that our Company is not in any kind of partnership or merger discussion with any Insurance company regarding our Annuity Insurance Portfolio.

We call on all our intermediaries and Clients to disregard any information regarding the transfer or acquisition of GNI’s Annuity Insurance Portfolio.

Great Nigeria Insurance Plc is poised to continue in its well known tradition of delivering qualitative insurance services to its esteemed customers”, it stated.