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About International Energy Insurance PLC
We at IEI have worked tirelessly to present you a one stop online portal. Our solutions are online, realtime and instantly validated on the NIID platform. Indeed we own the online insurance world.
IEI Assets Limited is a wholly owned Investment Management subsidiary of International Energy Insurance Plc. The company which commenced operations in August 2007 was established to fill the service delivery gaps evident in the Nigerian financial services Industry today: and to provide the unique Investment services delivery to provide above market return on investment. It is built on a broad based knowledge and expertise in capital investment, assets financing and special situation lending.
International Energy Insurance Plc emerged in June 2003, when a group of investors and management acquired 70% of Global Assurance Co Ltd. The company at the time was 34years old
and was technical management of the National Insurance Commission (NAICOM).The new team redirected the internal and external dynamics of the company changing the core business focus to a yawning gap in the insurance industry- Energy Insurance. IEI Plc. has in this short period experienced phenomenal growth in its business and gained the confidence of the market as a result of its aggressive approach to business development and quest for improvement and innovation in an industry known for its “conservatism”.
Our parent company has since become one of the strongest Insurance company’s in its industry having scales the hurdle of the recent consolidation exercise with Authorized Capital of N8.0billion, paid capital in excess of N8.5billion and Shareholders Funds in excess of N11.0billion.
Brief History
We established business in 1969 as Nigeria Exchange Insurance Company Limited. Over the years, we have been through series of transformations that have brought us where we are and shaped us into who we are today.
With a redirection of the internal and external dynamics of the company, we focused our core business on a yawning gap in the insurance industry: Energy Insurance. In 2003 International Energy Insurance, IEI was born. This was followed by a major recapitalization, which was needed to meet the challenges of this new direction.
In 2007, and with a general insurance license from the National Insurance Commission, IEI became a Plc and raised capital in the neighborhood of N7.7Billion from private placement. Our authorized share capital of 8.5 Billion has N2.5 Billion paid up and a capital reserve of N6.0 Billion as at 2007 financial year end.
The company’s security is backed by a consortium of local and foreign re-insurers coupled with our technical partners Mash Ltd., London, AON Corporation, London. AON is currently rated the No.1 Global Reinsurance Brokers.
IEI has in a short period experienced phenomenal growth in its business production and gained the confidence of the market, demonstrating innovation and an aggressive business development approach in a notoriously conservative industry.
Our Vision
To be a global financial institution providing integrated solutions to the energy, industrial and service sectors.
Our Mission
To be a dependable partner, helping our clients manage and protect their human and material assets while
delivering superior value to all our stakeholders.
Core Values
The birth of our values is consistent with our mission while aligning with our vision.
Our Proficiency leads to our doing things right, first time, all the time. This leads to constant Innovation which results in constant improvement in our ways of doing things. Our Integrity is obvious in our transparent honesty in all dealings with all our stakeholders. Dependability is guaranteed as we can be counted on, all the time. By Friendliness, we shall exhibit a friendly disposition in all dealings with our client and others.
Our Five core Brand values define who we are
I Integrity
F Friendliness
D Dependability
I Innovation
P Proficiency
Our slogan encapsulates