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Tony Elumelu Launches New Business portfolio, Secures FG Licenses For Insurance Firms

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African economist, entrepreneur, and philanthropist, Tony Elumelu, has delved into the insurance industry, securing a Nigerian Federal Government licenses to launch his new business portfolio.

BIGPENNGR.COM reports, Elumulu who is the chairman of Heirs Holdings, the United Bank for Africa, and Transcorp, has launched a new business portfolio.

Elumelu announced the new feat on Friday on his verified Twitter handle.

“Today, I am proud to announce that the Nigerian Federal Government, through the insurance regulator, the @NaicomNG, has officially issued the operating licences for our new Group insurance companies – @HeirsInsurance_ (HIL) & @HeirsLife_ (HLA)”, he wrote.

The development, according to him, represents a further important milestone in a long-term strategic journey in providing much needed, quality, and valuable financial services, to a broad demographic in Nigeria and Africa.
#Insurance, according to him, “should not be a luxury, and just as we have democratised other sectors, we will democratise insurance – applying our tried and tested business philosophies and execution ability.
“Fuelled by the determination to improve lives and leave a legacy in the African private sector, we have embarked on this journey to revolutionise the insurance space – deploying technology, customer understanding and operational excellence”, he further wrote.
Elumelu hails from Onicha-Ukwu in Aniocha North Local Government Area of Delta State.