Union Assurance changes name to Ensure Insurance
UNION Assurance Company PLC has changed its name to Ensure Insurance PLC to reflect its new ownership, following the successful acquisition of majority stake in the underwriting firm by Greenoaks Global Holdings Limited.
The Company’s shareholders who gave their approval to change the name at its 1st Extra-Ordinary General Meeting held at Civic Centre, Ozumba Mbadiwe, Victoria Island,Lagos, voted in favour of the name change to reflect the institutions new identity.
Part of the special business proposed at the meeting by the Board Chairman, Mr Fola Adeola was the amendment of the Memorandum and Article of Association of the Company to reflect the change of name.
The Company will subsequently file the change in its corporate identity at the Corporate Affairs Commission and the National Insurance Commission.
Greenoaks Global Holdings Limited (GGH) is a London based investment firm focused on building market-leading insurance businesses in fast-growing frontier and emerging markets.
The Greenoaks’ team brings extensive experience in insurance, reinsurance, and operational transformation, having worked with Fortune 500 companies to early-stage emerging market insurers.
Its team’s combined experience includes leading financial and professional service firms such as Goldman Sachs, D.E. Shaw, McKinsey & Company, AIG, and Swiss Re. Greenoaks focuses on driving value for its companies over the long-run, and intend to remain long-term owners and operators to drive extraordinary value creation for its stakeholders.