Universal Insurance Plc
NNSENG:UNIVINSURE0.77
NGN
-0.08
(-9.41%)
Universal Insurance Plc
NSENG:UNIVINSURE
(Nigerian Stock Exchange)
Recent
price
0.77
P/E
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Universal Insurance Plc is a Nigeria-based underwriting firm that provides general and non-life insurance products and risk management services to corporate, commercial, and individual clients across Nigeria. The company operates through diverse non-life underwriting segments, offering a portfolio of risk solutions comprising motor vehicle insurance, including private, commercial fleet, and third-party policies; property insurance, including fire and special perils, burglary, and housebreaking cover; marine and aviation insurance, encompassing marine cargo, marine hull, and transit policies; engineering and construction risk policies, including contractors all risks, erection all risks, and machinery breakdown insurance; energy and industrial risk covers, including oil and gas underwriting; agricultural insurance; and fidelity guarantee and contract bonds. Within its specialty and casualty lines, the company provides professional indemnity, public liability, employers liability, occupiers liability, builders liability, and goods-in-transit insurance. Universal Insurance Plc also delivers specialized digital retail and micro-insurance solutions, including personal accident coverage, Kiddies Personal Accident plans, school fees guarantee insurance, local travel insurance, and transport-sector retail covers such as Okada PASS and Keke PASS. In recent corporate developments, the company has executed a comprehensive digital transformation strategy by fully automating its retail underwriting and claims management processes, deploying web aggregator-compliant digital platforms, and expanding direct-to-consumer online distribution channels. To support business expansion and adhere to National Insurance Commission capital directives, the company has pursued capital restructuring and equity recapitalization initiatives through rights issues and private placement arrangements, while maintaining technical underwriting reinsurance agreements with Swiss Reinsurance Company and strengthening distribution partnerships across the Nigerian Council of Registered Insurance Brokers network. Founded in 1961 as The Universal Insurance Company Limited, Universal Insurance Plc is headquartered in Lagos, Nigeria, and operates nationwide through branch offices in major regional commercial hubs, including Abuja, Port Harcourt, Enugu, Ibadan, Kaduna, and Owerri.