| Industrial and General Insurance Company Plc (IGI) | |
| Type: | Private company |
| Location: | Lagos, Nigeria |
| Key People: | Yakubu Gowon (chairman), Remi Olowude (executive vice chairman & CEO)[1] |
| Industry: | Financial services |
| Products: | Insurance, banking, investments |
| Assets: | US$338 million (NGN:53.1 billion) (2010) |
Industrial and General Insurance (IGI) is an Nigeria insurance company and is a major provider of insurance and risk management services in West Africa. It has subsidiaries, in Ghana, the Gambia, Rwanda and Uganda and a representative offices in London and Washington, DC.
The company's main focus is insurance services, but through subsidiary companies, it is also invested in a diverse array of other sectors, including: banking, construction, engineering, mining, real estate, telecommunications and waste management.
, the company's total assets were estimated at about US$338 million (NGN:53.1 billion), with shareholders' equity of about US$140 million (NGN:22 billion). At that time, IGI was the largest insurance company in Nigeria and the largest underwriter in West Africa.[2]
Industrial and General Insurance Company Plc was founded as a limited liability company on 31 October 1991 by Oluremi (Remi) Olowude. The company commenced business in January 1992. Remi Olowude was both founder and CEO until he died in September 2014.[3]
In January 2024, the Federal High Court of Nigeria stopped the company from holding its proposed Annual General Meeting pending the hearing of a suit filed by shareholders of the company.[4] [5]
The company has a branch network in 45 urban locations in the majority of states in the Federal Republic of Nigeria.
The products and services offered by IGI include the following classes of insurance and non-insurance services:[6]
The company, either alone or together with other subsidiaries, is an investor in the following entities:[7]
The governing body of the company is the twelve-member board of directors. General Yakubu Gowon, one of the non-executive board members, is the chairman.[8]