Access Holdings Plc says the name of its insurance brokerage subsidiary, Megatech Insurance Brokers Limited, has been changed to Access Insurance Brokers Limited, to align with the identity of the Access brand.
The organization announced the change in a corporate filing with the Nigerian Stock Exchange (NGX), one month after it wrapped up the acquisition of Megatech Insurance Brokers Limited.
It said in the statement: “Access Holdings Plc wishes to inform of the change in the name of the Company’s insurance brokerage subsidiary “Megatech Insurance Brokers Limited” to “Access Insurance Brokers Limited” following the receipt of required regulatory approvals.
“The name change is meant to align the subsidiary’s identity with the Access brand and drive optimisation of business opportunities.
“The subsidiary will continue to operate within the regulatory framework set by the National Insurance Commission.”
Access Holdings Plc announced in January that the acquisition of Megatech Insurance Brokers Limited was part of its strategic goal of offering a comprehensive bouquet of financial services to all segments of society.
It said that it had obtained all required regulatory approvals for the acquisition by the National Insurance Commission (NAICOM).
“The acquisition of the Company complements Access Holdings bouquet of product offerings in pursuit of its vision of building globally connected community of ecosystems inspired by Africa for the world. In this regard, Megatech will strive to create a world where risk is efficiently managed so that we can confidently seek and seize opportunities for growth,” its statement said.
The late Group Chief Executive Officer, Access Holdings, Dr. Herbert Wigwe, was quoted to have said: “This acquisition is a natural step in our evolution as a globally connected community and ecosystem and aligns with our mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.
“The Company will design and provide intelligent solutions that mitigate the unique risks faced by individuals and business in an ever-changing world using leading risk management tools and governance standards.”
