Nigeria’s Royal Exchange sells 39% stakes to KfW fund

Royal Exchange

InsuResilience Investment Fund, a fund managed by Swiss KfW investment bank said it has acquired 39.25% stake in Nigeria’s Royal Exchange General Insurance Company.

Royal Exchange is one of Nigeria’s largest agriculture insurers, nut certainly one of the smallest in terms of underwritten risks and premium.

The company said it will use the proceeds to increase its risk capital and supporting its underwriting capacity in agriculture.

With a market capitalization of about 1.1 billion naira, Royal Exchange’s shares has remained almost in a frozen stated at N0.22 kobo per share.