Tangerine Life Insurance Limited, (previously known as Metropolitan Life Insurance Nigeria Limited), has, after a meticulous process, concluded its integration with ARM Life PLC.
The key objective of the acquisition is to build a stronger, broader insurance and financial services platform, drawing on the strengths of both entities. Tangerine Life’s strength in the corporate market segment and ARM Life’s broad retail and annuity-based service offering.
Since it was first announced in February,2020, both organizations have been exploring each other’s strengths and pulling together to form an impressive new enterprise which will delight its customers with its quality products and commitment to their satisfaction.
Tangerine Life’s ethos and drive is clear in the words of Livingstone Magorimbo, Managing Director, Tangerine Life, “Integrating the businesses has presented us a tremendous opportunity to enhance our capabilities, improve operating efficiencies and grow our businesses. At Tangerine Life, we will continue to push the cutting edge, innovate and drive positive change within the insurance industry and position ourselves to stay above the wave of the next revolution.”
ARM Life PLC is a leading provider of Life Insurance services, with a strong focus on Retail and Annuity products. “Innovation is paramount in ensuring customer satisfaction in today’s business landscape. We believe that the combination of both entities will ensure exceptional value creation for our existing and new customers & partners alike” said Stephen Alangbo, (former)Managing Director at ARM Life Plc.
Smoothly completing this integration into a more powerful and agile entity with twin strengths – youth and experience in retail and corporate to deliver value for all stakeholders.
This collaboration places Tangerine Life firmly as the 4th largest life insurer in Nigeria.