Business News

Norremberger to make IEI industry leader in five years

The Group Managing Director of Norrenberger, Mr. Tony Ede has disclosed that the firm has a five-year plan to reposition International Energy Insurance (IEI) Plc, Nigeria’s first energy-focused insurer, into an industry leader.

Norrenberger recently acquired struggling IEI in 2022 and has been engaged in restructuring the company.

Mr. Ede made this remark at the office opening ceremony of IEI.

Ede said:

Mr Bukar Goni Aji, Chairman of Norrenberger Group, also noted that IEI experienced a remarkable turnaround following a period of downturn that prompted regulatory intervention by the National Insurance Commission (NAICOM).

With fresh investment from Norrenberger, the company underwent a significant transformation, replacing its staff by 50 to 60% and adopting new strategies.

Mr Olasupo Sogelola, Managing Director of IEI, emphasised the company’s dedication to becoming a top contender in the insurance industry, highlighting the new office’s role in providing a conducive environment for innovation and professionalism.

He said:

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