Monday, April 10, 2017/ 9:22 AM /NSE
The Board of Directors and Management of Standard Alliance Insurance Plc hereby advises its esteemed shareholders and other stakeholders with regret that it has been unable to submit its 2016 audited financial statements to the Nigeria Stock Exchange (NSE) and Securities & Exchange Commission (SEC) within the timeframe required by the regulatory agencies.
This had been unanticipated as the Company had expected to finalize the audit and publish its 2016 financial statements by March 31, 2017.
The delay was as a result of the Company being unable to conclude the audit of its Financial Statements for the year ended 31 December 2016 due to its recent Merger with Standard Alliance Life Assurance Limited.
More so, it is expected of the Company to after the audit, file with its Primary Regulator, National Insurance Commission (NAICOM) for approval before submission to The Exchange.
We sincerely apologize for any inconvenience caused and are optimistic to submit the Accounts to The Exchange as soon as it is approved by the National Insurance Commission on or before 10th May, 2017.