Monrovia – The management of Equity Assurance Limited has disclosed that the company will in the soonest possible period of time be renamed SUNU Assurances following final paper works.
It could be recalled that Equity Assurance was in 2015 awarded unanimously named insurance company of the year by a civil society watchdog organization for exemplifying international insurance best practices in Liberia.
Speaking at a news conference at the weekend, the Chairman of the Board of Directors of Equity Assurance Company, Mr. Steve Kolubah, said the decision is as a result of a large share bought by SUNU Group.
SUNU Assurance Group in the early part of this year secured a 63 percent ownership of Equity Assurance, which accounts for US$566,540 worth of shares bought by the French-based insurance giant.
“With the approval of the Central Bank of Liberia, Equity will be called SUNU-Liberia Limited at the end of July. SUNU is a big brand in Africa,” the Equity Board Chair disclosed.
In addition to the takeover by SUNU, Kolubah revealed that a new management team headed by Mr. Mathieu N’Katta as Managing Director and Chief Executive Officer (CEO) has taken over following the reign of an interim management team.
Also speaking at the news conference, new MD and CEO N’Katta said SUNU Group was founded in 1998, and is currently in 14 African counties in Africa.
He said as part of its commitment, SUNU has always proven to improve its practices in the insurance sector.
“We have over the years tried as best as possible to come close to our clients for convenience services,” N’Katta stated.
Following its final takeover in July, he vowed that SUNU-Liberia would be committed in exercising its corporate social responsibility in a bid to change lives.
“We are here for Liberians and we are here to better up their lives. We want to make a difference in improving the standard of living of Liberians,” he said.
N’Katta promised to prioritize the employment of Liberians at the entity as part of the company’s quest to create jobs for the locals.
“We are going to give Liberians first priority when it comes to employment. This is what we usually do in the countries that we have been operating in. That will not be a different case here,” he among other thing added.
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