The Managing Director, Niger Insurance Plc, Dr. Justus Uranta, has said that the offering of the company’s Rights Issue will add value to the operation of the firm.

He said this during a press briefing on the issue, consisting 2.67 billion ordinary shares of 50k each at 50k per share.

He said, “Feedback shows that the response on the issue has been very impressive. When this is completed, it will help to enhance our working capital and increase our risk retention capacity to do bigger businesses.”

The managing director noted that the firm was optimistic of paying dividend to its shareholders, as its financial performance had shown significant improvement in recent times.

He also urged the existing shareholders to quickly take advantage of the opportunity of the offer, saying it was the right and wise time for them to invest in order to reap in the future.

The Niger Insurance boss added, “We are encouraging those who have yet to buy to go for it before it ends so that they can reap from the profits in future. This is the right time to buy, and we are doing everything possible to make the price to rise.”

Uranta, who noted that insurance shares went down in the past, said that there had emerged increased hope for the shares, as the only option opened to it was to start to rise, stressing that more foreign investors were showing interest in the sector.

The insurer added that the issue would help in the deployment of electronic platforms and facilities to all its regions and branches nationwide for quick and reliable service delivery.

According to him, it will help in investment in distribution channels for improved marketing of the company’s products, such as creation of special market for the compulsory insurance policies; opening of new branches; and acquisition of modern tools for effective operations.

In order to take insurance to the grass roots, he said that the company was developing new branch networks, while also upgrading its existing branches across the country.

For this reason he said, “Branch expansion is a continuous thing for us. We sell insurance, and we will take insurance to the doorsteps of those who are ready to take it.”

Source: Punch/Nike Poopola