Regency Alliance unveils N3bn rights issue

Regency Alliance Insurance Plc has unveiled a N3 billion rights issue designed to bolster its capital strength, expand its operational reach, and accelerate digital transformation initiatives. The move signifies a strategic effort to enhance the company's capacity to address evolving risks and fulfill its commitments to policyholders.

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Today’s signing is more than a formality. It is a statement of belief – belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years. This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder: that Regency Alliance will be there when it matters most.

The Rights Issue allows existing shareholders to increase their stake by subscribing to new ordinary shares. "Today’s signing is more than a formality. It is a statement of belief – belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years," stated Chief Wale Taiwo, Acting Chairman. He added that the capital raise will provide the "firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder."

Managing Director Bode Oseni explained that the proceeds will be strategically deployed to advance the company's digital transformation efforts and extend its reach into underserved market segments. "The proceeds from this Rights Issue will accelerate our digital transformation, enhance claims efficiency, and enable us to introduce innovative products tailored to SMEs, Gen Z, and other underserved segments across Nigeria and beyond," Oseni said.

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We urge all eligible shareholders to take advantage of this Rights Issue and fully exercise their rights. By doing so, they will not only protect their investment from dilution but also participate directly in the exciting growth opportunities that lie ahead for Regency Alliance Insurance Plc.

Regency Alliance Insurance Plc aims to leverage this capital injection to maintain its agility and customer-focused approach. The company is encouraging eligible shareholders to fully exercise their rights, emphasizing that participation will not only protect their investment from dilution but also allow them to share in the company's future growth opportunities.

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Regency Alliance has always prided itself on being agile, customer-focused, and financially sound. The proceeds from this Rights Issue will accelerate our digital transformation, enhance claims efficiency, and enable us to introduce innovative products tailored to SMEs, Gen Z, and other underserved segments across Nigeria and beyond.