Monday, March 06, 2017/ 5:10 PM /NSE
Sequel to the directive of the National Insurance Commission, Ghana for all Insurance companies in Ghana to recapitalize, our subsidiary in Ghana, Regency Alliance Insurance Limited had to merge with another Company in Ghana, NEM Insurance Company Limited Ghana.
The merger has been successfully concluded and the emerging Company is now known as RegencyNem Insurance Limited, Ghana.
However, as a result of the merger, Regency Alliance Insurance Plc. no longer has controlling shares in the company as our equity holding had reduced. The company is therefore now regarded as an Associate Company of Regency Alliance Insurance Plc.