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Relocating to the seat of government is like a child moving closer to the parents to enjoy more attention, as the Federal Republic of Nigeria is one of the founding fathers of Africa Re. In Abuja, Africa Re will certainly enjoy increased government attention in terms of immunities and privileges accorded by the Agreement establishing Africa Re and the Headquarters Agreement with the Federal Republic of Nigeria
Allianz Group has signed an agreement to acquire 8% in Africa's leading reinsurer Africa Re. Under the terms of the agreement, the total cash consideration payable at closing would amount to USD 81 million (or Euro 69 million).
In light of the ever-increasing rate of unemployment, credit institutions, especially banks, are increasingly resorting to job loss insurance to minimise the financial consequences of the non-repayment of loans.
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