Regency Alliance Insurance Plc has officially commenced its next major growth phase by signing a Rights Issue Agreement to issue 3.2 billion ordinary shares. The capital raise is structured to significantly bolster the company’s underwriting capacity and accelerate its digital expansion across the region.
The offer will see 3,201,000,000 ordinary shares of 50 kobo each issued at 95 kobo per share. Current investors will be offered one new share for every five ordinary shares already held.
The formal signing ceremony, held at the company’s corporate headquarters in Lagos, brought together board members, issuing houses, legal advisers, and stockbrokers. Executive leadership energised the event, emphasising that the capital injection is designed to directly fund critical investments in technology, support new product innovation, and improve overall customer experience.
Speaking on the strategic weight of the milestone, the Acting Chairman of Regency Alliance Insurance Plc, Chief Wale Taiwo, SAN, noted that the initiative marks a definitive commitment to the firm’s long-term partners.
He said, “Today’s signing is more than a formality. It is a statement of belief – belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years. This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder: that Regency Alliance will be there when it matters most.”
