FBN General Insurance gets N1.05bn capital injection from shareholders


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Chuks Udo Okonta

The Shareholders of FBN General Insurance, a general insurance company have injected additional capital to the tune of N1,048,246,604.50 thereby bringing the total share capital of the company to N5 billion.

“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,” the Managing Director/Chief Executive Officer of the company, Bode Opadokun, said while briefing news men.

FBN General Insurance is one of the few general insurance businesses to meet the first phase of recapitalisation as then announced by the regulator National Insurance Commission (NAICOM) but this directive is now put on hold.

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

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