This is what I call consolidation...
Custodian & Allied absorbs Crusader Nigeria
Following the conclusion of the business combination process, Custodian & Allied Insurance Plc has taken over the assets and liabilities of Crusader Nigeria Plc. The enlarged entity would be known as Custodian & Allied Plc.
In a statement made available to The Guardian, Brand and Communications Manager, Custodian and Allied Plc, Chukwudum Ofomata, said the merger has created integration of skills, information technology (IT) and back office processes which would be to the advantage of the customers of the company.
According to him, customers can now take advantage of the company’s increased spread, improved operational efficiencies and expanded product portfolio.
“The merger between Custodian & Allied Insurance Plc and Crusader (Nigeria) Plc leverages on 79 combined years of insurance and financial services experience. The merger has created invaluable integration of skills, information technology and back office processes. All these to the benefit of our customers and other stakeholders,” Ofomata said.
He noted that the strengths of Custodian & Allied Plc lie in its stronger balance sheet, financial capacity, improved operational efficiencies and an expanded product portfolio adding that the company has greatly expanded its scope of services with the merger with Crusader (Nigeria) Plc.
Source: The Guardian Nigeria