SA Life positive about merger with Standard Alliance plc

Board of Directors, Standard Life (SA Life) Assurance Limited says its ongoing merger with Standard Alliance plc would result in major turnaround in the fortunes of the life company.
“We remain extremely positive about the future of the emerging Company and will not relent in our efforts at ensuring that the insuring public will choose us ahead of competitors”.

We want reiterate that we are poised to take advantage of the opportunities that will arise after the twin exercise of merger and recapitalisation of the Company, Bode Akinboye, chairman of the Company said during SA Life Annual General Meeting in Lagos.

Akinboye told shareholders at the meeting that   the board had at previous meeting informed shareholders that it was working with some investors in respect of merger and/or business combination and /or raising of additional capital etc.

I am happy to inform you that NAICOM has given us the approval in principle to go ahead a merger with Standard Alliance Insurance plc. This said merger process today has reached advanced an advanced stage”

On the future outlook, he informed that in the months ahead the Company will be executing an aggressive retail strategy, targeted at low income earners and SME entrepreneurs.
Our mid-term strategic agenda is to introduce retail market products that can deploy latest mobile and payment channels to reach the financially excluded market segments, Akinboye said.