International Energy Insurance Co. Plc
NNSENG:INTENEGINS2.14
NGN
+0.11
(+5.42%)
ISIN
NGINTENEGIN5
Return %
Stock
S&P 500
1Y
-26.21
14.20
3Y
53.96
81.12
5Y
463.16
68.34
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.Company Description
- CEO
- Joyce Odiachi
- Sector
- Finance
- Industry
- Life/Health insurance
- Address
- Lagos Nigeria
- IPO Date
- Feb 25, 2005
- Website
- ieiplcng.com
- Similar Companies
- Business
- International Energy Insurance Co. Plc is a Nigeria-based non-life underwriting company that specializes in providing specialized energy, commercial, industrial, and retail insurance solutions. Founded in 1969 as Nigeria Exchange Insurance Company Limited and rebranded in 2003 to pioneer dedicated energy underwriting in Nigeria, the company is headquartered in Victoria Island, Lagos, and operates as a subsidiary of Norrenberger Advisory Partners Limited. The company provides a comprehensive portfolio of risk management and insurance solutions structured across distinct business segments: Energy Insurance, covering onshore and offshore oil and gas exploration and production operations, petrochemical facilities, pipelines, refineries, power generation assets, and renewable energy infrastructure; Property and Engineering Insurance, comprising fire and special perils, industrial all risks, business interruption, consequential loss, machinery breakdown, electronic equipment insurance, and contractors all risks; Marine and Aviation Insurance, including marine hull, marine cargo, transit liability, and aviation hull and liability policies; Casualty and Liability Products, encompassing public liability, product liability, employers liability, professional indemnity, directors and officers liability, fidelity guarantee, burglary, and group personal accident; Motor Insurance, offering comprehensive, third-party fire and theft, and mandatory third-party vehicle policies for individual and corporate fleet owners; Financial Guarantees and Bonds, providing performance bonds, advance payment bonds, bid bonds, and customs bonds; and Retail Solutions, featuring domestic and international travel insurance and personal accident coverage. The company primarily serves oil and gas conglomerates, energy contractors, maritime and logistics corporations, manufacturing enterprises, public institutions, and retail policyholders across Nigeria. In recent corporate developments, the company underwent a comprehensive operational, governance, and financial transformation following the acquisition of a controlling equity interest and subsequent mandatory takeover bid by Norrenberger Advisory Partners Limited. To restore institutional solvency and comply with National Insurance Commission recapitalization directives, the company executed a multi-stage capital restructuring, which included converting multi-billion naira shareholder deposits into equity and launching a 17.5 billion Nigerian naira capital raise. Under Norrenberger stewardship, the company has implemented a five-year strategic turnaround framework, reconstituted its executive leadership and board, modernized its digital policy administration infrastructure, and resolved legacy obligations, resulting in a sustained return to underwriting profitability and enhanced capital adequacy.