Mansard Insurance Plc has informed The Nigerian Stock Exchange that it has recently acquired the entire issued share capital of a Health Management Organization known as Procare Health Plan Nigeria Limited and intends to run and operate same as its subsidiary in the Health Maintenance Industry.
Mansard, formerly Guaranty Trust Assurance Plc, is a leading provider of life and general insurance services in Nigeria, with Shareholders Fund of N14.1b and Total Assets of N31.5b (2012 Audited).
Mansard Insurance is listed on The Nigerian Stock Exchange with market capitalization of approximately N24 billion (as at June 5, 2013). It has consistently received the highest ratings in the insurance industry, A+ for Claims Paying Ability and B- for Issuer Credit Rating in September 2010 by Global Credit Rating Company of South Africa; B for Financial Strength and BB+ for Issuer Credit Rating by AM Best, the world’s leading specialist insurance rating agency; and A+ for Credit Risk by Agusto & Co.