Standard Alliance Insurance Plc, has unfolded plans to shore up its capital base to N20 billion, through a public offer this month. The company’s current shareholders funds currently stand at N5.7 billion.

Mr Kehinde Borishade, Managing Director of the company said at the unveiling of the company’s promo, tagged ‘Rewarding motor rumble promo’, held in Lagos. He noted that the company in its transformation strategy hopes to raise its capital base to N20 billion in order to be effectively positioned for post consolidation.

"Standard Alliance Insurance Plc has just undergone a repositioning and rebranding exercise aimed at positioning the company among the top five players in the insurance industry. In line with this repositioning, we are already concluding plans to go to the capital market this month to raise our capital base."
On the company’s promo, he said: "The choice of the title "SA rewarding motor rumble promo" is informed by the need to re-enforce the brand’s positioning statement.

"This promotion is aimed amongst others, to build awareness for Standard Alliance Insurance brand, re-enforce the company’s brand promise of "your access to a rewarding life" reward loyalty, deliver, superior, more effective customs service, increase returns on shareholders’ investments while deepening and sustaining motor insurance awareness among the general public for good of all."