This initiative led to the acquisition of 60% majority shareholding in the National Insurance Corporation (NIC), Uganda, after a competitive international bidding exercise.
In 2005, IGI launched the African Expansion Programme which marked the beginning of the company’s foray into the African insurance market. IGI also participated actively in the insurance programmes of foreign oil companies operating in Nigeria. On account of its remarkable performance, the IGI-led consortium was reappointed for 19. The reputation earned the company national recognition in 1996 when it was appointed by the Federal Government as the leading member of a consortium of insurance companies to handle the insurance programme of the Nigerian National Petroleum Corporation (NNPC), the government-owned oil exploration and refining company. This was the highest, at the time, by any private insurance company in Nigeria in terms of the volume of business.įrom inception, IGI demonstrated exceptional skill and expertise in the underwriting of specialised risks in oil and energy, marine, aviation, engineering and industrial risks management. In 2004, the company consolidated its leadership position in the industry with a premium income in excess of N4 billion. IGI made history in 1996 as the first private insurance company in Nigeria to post N1 billion premium income, that is four years after it began operations. Within few years of its existence, the company recorded landmark achievements which underscored its high potentials as a market leader and frontline player in the nation’s insurance industry. Backed by a strong capital base, first-class professionals and deployment of modern technology, the company quickly established a reputation for exceptional competence and became the preferred insurer for individual and corporate clients seeking premium insurance and related financial services. It commenced business in January 1992 as a composite insurer to transact the business of Life and General insurance, including Pensions and Special Risks. Industrial And General Insurance Plc (IGI) was first incorporated as a private limited liability company on 31 October 1991 and later re-registered as a public limited liability company in 2007.
Machinery Protection Insurance (Loss of profit).Endowment Assurance (With or Without Profit).Continuous Educational Endowment Plan (CEEP).
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