IEI Plc Targets ₦22.5 Billion Recapitalisation to Deepen Market Position
In a bold move to strengthen its financial muscle and reclaim leadership in Nigeria’s insurance sector, International Energy Insurance Plc (IEI Plc) has unveiled plans to raise ₦22.5 billion through a comprehensive recapitalisation exercise.
The announcement came during a recent stakeholders’ engagement session ahead of the company’s Extraordinary General Meeting (EGM) scheduled for November 2025.
⚡ A New Chapter for Nigeria’s First Energy-Focused Insurer
Founded in 1969, IEI Plc is Nigeria’s first energy-specialised insurance company, providing coverage for both onshore and offshore energy risks.
Following its 2022 acquisition by Norrenberger Advisory Partners Limited, the company has undergone a strategic transformation to rebuild investor confidence and enhance governance structures.
Financial Rebound and Fresh Confidence
The insurer has recently achieved several major milestones that have repositioned it for sustainable growth:
✅ Relisting on the Nigerian Exchange (NGX): IEI Plc successfully returned to the NGX, signaling restored market confidence.
✅ Full settlement of ₦14 billion Daewoo loan: The company cleared a long-standing debt that had hampered its operations for years.
✅ ₦2 billion deposit for shares received: A critical injection of capital that will be converted to equity within the financial year, pending regulatory approval.
These moves have solidified IEI’s financial stability and reinforced its commitment to long-term solvency.
The ₦22.5 Billion Capital Raise Plan
To execute the recapitalisation, IEI Plc has appointed CardinalStone Partners Limited and Vertiva Capital Management Limited as Lead Financial Advisers.
The capital mobilisation — projected to commence in February 2026 — will involve a mix of private placement, offer for sale, and rights issue, subject to shareholder and regulatory approvals.
According to the company, this initiative aims to:
Strengthen the firm’s solvency margin.
Support growth in energy and general insurance segments.
Enhance shareholder value and competitiveness within the Nigerian insurance market.
Governance, Transparency, and Strategic Vision
At the stakeholders’ meeting, IEI’s leadership reaffirmed its dedication to corporate governance discipline and radical transparency as it pursues this ambitious recapitalisation goal.
Key attendees included:
• Dr. Adeyinka Hassan (Non-Executive Director)
• Mr. Tony Edeh (Non-Executive Director)
• Dr. Joyce Odiachi (Acting Managing Director)
• Mr. Uyi Osagie (Chief Financial Officer)
• Mr. Moses Igbrude (Chairman, Statutory Audit Committee)
What’s Next?
The upcoming EGM in November 2025 is expected to:
Ratify the company’s recent achievements.
Approve the capital raise plan.
Set the stage for sustained profitability and long-term shareholder returns.
Takeaway
IEI Plc’s ₦22.5bn recapitalisation plan underscores renewed investor confidence in Nigeria’s insurance sector, especially as firms reposition to meet NAICOM’s capital requirements and capture new market opportunities.
With debt cleared, capital inflows in motion, and strategic governance reforms underway, IEI Plc appears poised for a transformational growth phase in 2026 and beyond.
In a bold move to strengthen its financial muscle and reclaim leadership in Nigeria’s insurance sector, International Energy Insurance Plc (IEI Plc) has unveiled plans to raise ₦22.5 billion through a comprehensive recapitalisation exercise.
The announcement came during a recent stakeholders’ engagement session ahead of the company’s Extraordinary General Meeting (EGM) scheduled for November 2025.
⚡ A New Chapter for Nigeria’s First Energy-Focused Insurer
Founded in 1969, IEI Plc is Nigeria’s first energy-specialised insurance company, providing coverage for both onshore and offshore energy risks.
Following its 2022 acquisition by Norrenberger Advisory Partners Limited, the company has undergone a strategic transformation to rebuild investor confidence and enhance governance structures.
Financial Rebound and Fresh Confidence
The insurer has recently achieved several major milestones that have repositioned it for sustainable growth:
✅ Relisting on the Nigerian Exchange (NGX): IEI Plc successfully returned to the NGX, signaling restored market confidence.
✅ Full settlement of ₦14 billion Daewoo loan: The company cleared a long-standing debt that had hampered its operations for years.
✅ ₦2 billion deposit for shares received: A critical injection of capital that will be converted to equity within the financial year, pending regulatory approval.
These moves have solidified IEI’s financial stability and reinforced its commitment to long-term solvency.
The ₦22.5 Billion Capital Raise Plan
To execute the recapitalisation, IEI Plc has appointed CardinalStone Partners Limited and Vertiva Capital Management Limited as Lead Financial Advisers.
The capital mobilisation — projected to commence in February 2026 — will involve a mix of private placement, offer for sale, and rights issue, subject to shareholder and regulatory approvals.
According to the company, this initiative aims to:
Strengthen the firm’s solvency margin.
Support growth in energy and general insurance segments.
Enhance shareholder value and competitiveness within the Nigerian insurance market.
Governance, Transparency, and Strategic Vision
At the stakeholders’ meeting, IEI’s leadership reaffirmed its dedication to corporate governance discipline and radical transparency as it pursues this ambitious recapitalisation goal.
Key attendees included:
• Dr. Adeyinka Hassan (Non-Executive Director)
• Mr. Tony Edeh (Non-Executive Director)
• Dr. Joyce Odiachi (Acting Managing Director)
• Mr. Uyi Osagie (Chief Financial Officer)
• Mr. Moses Igbrude (Chairman, Statutory Audit Committee)
What’s Next?
The upcoming EGM in November 2025 is expected to:
Ratify the company’s recent achievements.
Approve the capital raise plan.
Set the stage for sustained profitability and long-term shareholder returns.
Takeaway
IEI Plc’s ₦22.5bn recapitalisation plan underscores renewed investor confidence in Nigeria’s insurance sector, especially as firms reposition to meet NAICOM’s capital requirements and capture new market opportunities.
With debt cleared, capital inflows in motion, and strategic governance reforms underway, IEI Plc appears poised for a transformational growth phase in 2026 and beyond.