Aug 7 (Lagos) - Liberty Holdings, owned by Standard Bank of South Africa is the third largest life insurer in Africa with operations in 14 countries. The company recently posted a 43% increase in its first half sales of $ 326 million for 2012.
The company already is planning to increase its exposure to Nigeria by possibly buying stakes in the insurance sector. Nigeria is the largest country in Africa by population and more than 95% of its people do not have life insurance in spite of the number of insurance companies in the country.
Also the shares of Nigerian insurerers are at rock bottom and it could offer an excellent opportunity for foreign insurance companies to buy stakes in Nigerian insurance companies. AIICO Insurance Plc is the largest life insurer in Nigeria.
reporting for easykobo.com on Tuesday, August 7 2012 from Lagos, Nigeria