German insurance firm Allianz will invest $ 35 m for a 98 % stake in Nigeria 's Ensure Insurance to expand its business in Africa . The firm will purchase the stake from UK holding company en Global Holdings . Ensure Insurance provides life and non - life insurance to businesses and retail firms , landing $ 13 m in gross premiums in 2016 . Foreign insurers view the African market as fertile ground for growth , as the continent develops its infrastructure and consumers increasingly look for consumer protection . it is active in 16 countries within Africa .
German insurance firm Allianz will pay $35m for a 98% stake in Nigeria's Ensure Insurance to expand its business in Africa. The firm will purchase the stake from UK holding company Greenoaks Global Holdings. Ensure Insurance offers life and non-life insurance to businesses and retail firms, landing $13m in gross premiums in 2016. Foreign insurers view the African market as fertile ground for premiums, as the continent develops its infrastructure and consumers increasingly look for risk protection. Allianz is active in 16 countries within Africa.