A Review of the Nigerian Energy Industry

BIC Insurances commence activity in Angola

17 October 2014, Luanda — BIC Insurances, business project of the shareholders of BIC Bank, started on Wednesday its activities in the country, with the inauguration of the head office in Luanda, a ceremony attended by the chairman of the Angolan Agency for Insurances Regulation and Supervision (ARSEG), Aguinaldo Jaime.

Luanda, AngolaWith a share capital estimated at AKZ 1.5 billion, the non-banking financial institution has generated 30 new jobs, said to the press the CEO of the BIC Bank, Fernando Teles.

According to Fernando Teles, with the consolidation of BIC Bank in the national market for nine years, the shareholders decided to create this insurance company, due to the potential development of the sector and the its current reduced penetration and density taxes.

So, the 220 branches of BIC Bank countrywide will trade the insurance products of BIC Insurances, given that its collaborators have already been trained for this purpose.

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