International Energy Insurance Company Limited emerged in June 2003, when a group of investors and management acquired 70% of Global Assurance Co Ltd. The company at the time was 34 years old and was under the technical management of the National Insurance Commission (NAICOM).
The new team redirected the internal and external dynamics of the company changing the core business focus to a yawning gap in the insurance industryâ€“ Energy Insurance. The company was subsequently recapitalised to N500 million to meet with the challenges of its new business focus. The company has since increased its authorised share capital to N8,500,000,000 comprising of 12,000,000,000 ordinary shares of 50 kobo.
IEI has in this short period experienced phenomenal growth in its business production and gained the confidence of the market as a result of its aggressive approach to business development and quest for improvement and innovation in an industry known for its â€œconservatismâ€.
A global financial institution, providing excellent insurance solutions to the energy and industrial sectors.
To be a dependable partner, helping our clients protect their human and material assets and creating superior value for all our stakeholders.
Proficiency: Having a culture of doing things right, first time, all the time
Integrity: Transparent honesty in all dealings with all our stakeholders
Innovation: Constant improvement in our ways of doing things
Dependability: We can be counted on, all the time
Friendliness: We shall exhibit a friendly disposition in all dealings with our Clients and other stakeholders