Mansard Insurance changes name to AXA Mansard Insurance

Market operators are hereby notified that Mansard Insurance Plc has changed its name to AXA Mansard Insurance Plc.

This is sequel to the resolution passed by the company’s shareholders at the Annual General Meeting held on 28 April 2015.

The Company has obtained a new Certificate of Incorporation from the Corporate Affairs Commission (CAC) bearing the new name.

The new name was implemented by both The Nigerian Stock Exchange (NSE) and the Central Securities Clearing System(CSCS) on  July 7,2015.

It will be recalled that Mansard Insurance Plc has been acquired by the France based AXA, one the international leading insurance and asset management groups.

The acquisition of Mansard is following the earlier control of Assur Africa Holding (AAH) that holds 77 per cent in the Mansard Insurance Plc.

While speaking at the AGM, the Chairman of Mansard Insurance, Mr. Victor Osibodu, said that the development would force the company to change its name to AXA Mansard Plc.

The chairman told shareholders that AXA was a global insurance player in insurance and asset management with 160,000 employees serving 102 million clients in 56 countries.

“In December 2014, AXA group, in a bid to actualise its Sub-Saharan African expansion, acquired 100 per cent equity in AAH.

“AAH before its acquisition, holds 77 per cent stake in Mansard Insurance PLC, thereby making AXA the beneficial owners of Mansard,” he said.

According to him, the company will benefit from limitless access to global resources, capacity development, stronger brand recognition, especially in corporate space.

“These will transcend to better service delivery, product innovation and increased returns for shareholders,” he said.

He further said that in line with the company’s strategic growth objectives, Mansard had successfully obtained regulatory approval to acquire 60 per cent stake in Penman Pensions Ltd.