ARM Holding Company Ltd has sold off its Life Insurance business, ARM Life, to Tangerine life Insurance Limited, (formerly known as Metropolitan Life Insurance Nigeria Limited)
The firm disclosed this in a statement signed by its Chief Executive Officer, Jumoke Ogundare, recently.
According to the company, the move was part of plans to refocus its business and increase product offerings across a broad array of investment opportunities suitable for clients’ needs.
The statement reads: “The divestment also allows us to collaborate more efficiently with multiple insurance companies on product development.
“We shall continue to maintain our business relationship with Tangerine life, the new owners of ARM Life. We assure our clients who have insurance products with the organisation, of our continued oversight of their policy where they have asked us to do so.
“As part of our overall plans to expand our service offerings, we have introduced a mobile trading platform, ARM Stocktrade, that provides access to domestic and international equity trading on the NSE, NYSE and Nasdaq.
“I also use this opportunity to introduce ARM Fixed Income Fund and ARM Eurobond Fund which are Naira and US Dollar denominated mutual funds respectively. The Funds broaden our investment opportunities to clients with low to medium risk appetite.”
Ogundare also advised customers to stay safe amid the rage of COVID- 19, while also assuring them of uninterrupted service and operations via its online platforms during this period.