By Dipo Olowookere
For its role in the 99.03 percent acquisition of Ensure Insurance Plc by Allianz Group last year, the management of NASD OTC Securities has announced Chapel Hill Denham Securities Limited as Dealer of the Year.
On Thursday, February 7, 2019, NASD, in a show of appreciation to all stakeholders involved in contributing to a successful 2018, as well as, setting the tone for year 2019, hosted its first annual business breakfast meeting at the MUSON Centre, Lagos.
The event was graced by a host of business leaders across various sectors, capital market participants, and government agencies.
The keynote address delivered by Dr Doyin Salami, an Associate Professor and full time member of the faculty at the Lagos Business School, included a review of year 2018 and an outlook for 2019.
The Breakfast Meeting provided an opportunity to recognize and commend the top performing securities on the NASD Over-the-Counter (OTC) Exchange for the year 2018.
Last year, Allianz Group, a German company, acquired Nigerian insurer, Ensure Insurance Plc, through the UK-based firm, Greenoaks Global Holdings.
Allianz said it was using the Nigerian organisation to penetrate the African market, where most people were still uninsured.
According to Allianz’s regional CEO Africa, Coenraad Vrolijk, “The acquisition of Ensure Insurance Plc gives us full access to this key insurance market in Africa and marks a major milestone for Allianz’s long-term growth strategy on the continent.”
The deal was brokered by Chapel Hill Denham and in recognition of its role in the mega transaction, NASD rewarded the stockbroking firm with the award.
Also honoured at the Thursday’s breakfast meeting were Apel Asset Limited, which was named the most active participating institution by number of deals traded; Niger Delta Exploration and Production Company PLC (NDEP) announced as highest price appreciation security 2018; Central Securities Clearing Systems PLC (CSCS) named as both the most compliant security and most actively traded security; and AFRINVEST Securities Limited, which emerged as the most active participating institution by value.
more recommended stories
Financial Stocks Lead NSE Weekly Transactions with N10.8bn
By Dipo Olowookere Last week, investors.
Imo: Recruitment, Appointments Panel Submit Report
The Technical Review Committee on Appointments,.
NASD Seeks Inputs on Admission of Commercial Paper
By Adedapo Adesanya The NASD OTC.
Treasury Bills Yields Jump to 12.99% Friday
By Dipo Olowookere The secondary market.
Airtel Africa Tops Price Gainers Chart as Index Picks 1.28%
By Dipo Olowookere The second largest.
VAT Increased to 7.5% not 7.2%
By Adedapo Adesanya Minister of Finance,.
NIPCO Declares N3 Per Share Dividend
By Adedapo Adesanya The Board of.
Naira Falls Against Dollar at Interbank, I&E
By Adedapo Adesanya The Naira put.