FBN General Insurance takes capital to N5bn

FBN General Insurance has raised its paid up capital by additional N1.04bn, bringing the company’s total share capital to N5bn.

FBN General has by this come to terms with the suspended recapitalisation schedule first phase initially supervised by the National Insurance Commission, the company like others are continuing the recapitalisation build up to enhance risk retention and brand prominence.

FBN General Insurance is a subsidiary of FBN Insurance Limited and a member of the Sanlam Group.

FBN General Insurance has raised its paid up capital by additional N1.04bn, bringing the company’s total share capital to N5bn.
The company’s statement relaying the managing director, Bode Opadokun, said the shareholders has “By this increased share capital, FBN General Insurance is set to meeting stakeholders requirement of driving innovation in our business model, processes, products and services in this new year and beyond.”

FBN General has by this come to terms with the suspended recapitalisation schedule first phase initially supervised by the National Insurance Commission, the company like others are continuing the recapitalisation build up to enhance risk retention and brand prominence.
FBN General Insurance is a subsidiary of FBN Insurance Limited and a member of the Sanlam Group.