ROYAL EXCHANGE SEEKS PARTNERSHIP WITH NIGERIAN ARMED FORCES RESETTLEMENT CENTRE

Royal Exchange Plc, Nigeria’s leading insurance and other financial services provider, has affirmed its readiness to assist retiring armed forces personnel in their pursuit of entrepreneurial success.

This was disclosed by the Group Managing Director, Royal Exchange Plc, Mr. Chike Mokwunye, during a courtesy visit by the Management of the Company to the Commandant of the Nigerian Armed Forces Resettlement Centre, Air Vice-Marshal C. E. Aroriode. Mr. Mokwunye disclosed that “the purpose of the visit was to see how Royal Exchange Plc can partner with the Resettlement Centre and provide tailor-made financial services to the Armed Forces personnel who are preparing for life outside the military”.

Speaking further, Mr. Mokwunye said that as a leading financial services provider, “Royal Exchange Plc and her strategic subsidiaries are well placed to offer services to the Centre and its members, from the Microfinance Bank which offers banking services to the aspiring small-scale business entrepreneur; the Finance and Investment subsidiary which can help senior officers acquire personal assets/household items and the General and Life insurance subsidiaries which offer general risk and life assurance policies”. 

He also stated that Royal Exchange Plc had taken note of the low insurance penetration in Nigeria and is embarking on a deliberate policy of developing and deploying an extensive marketing strategy that seeks to make Royal Exchange a leading financial services provider in the country.

In his response, the Commandant of the Centre, Air Vice Marshall C. E. Aroriode, stated that the objective of the Centre is to prepare Armed Forces personnel who are about to retire and prepare them for life outside the military and their desire is usually to set-up small scale industries.

Stressing the need for a mutually-beneficial relationship with Royal Exchange Plc, Air Vice Marshall Aroriode expressed optimism that such a partnership would go a long way in assisting the Armed Forced Resettlement Centre meet its statutory obligation to retiring Armed Forced personnel in Nigeria.

Royal Exchange Plc started operations in 1921 and continues to be driven by innovation and a determination to offer services that are of exceptional value to its customers. Following the recapitalization exercise in 2007, the company was reorganised into a group structure comprising Royal Exchange Plc as the holding company and five strategic subsidiaries namely:

• Royal Exchange General Insurance Company Limited (Non-Life Insurance Services)
• Royal Exchange Prudential Life Plc (Life Assurance Services)
• Royal Exchange Finance and Investments Limited (Financial Advisory Services)
• Royal Exchange Healthcare Limited (HMO and Health Insurance)
• Royal Exchange Microfinance Bank Limited (Banking Services)

For more information, please contact:
Corporate Affairs Department
Royal Exchange Plc
34/36 Oshodi-Apapa Expressway
Oshodi, Lagos.
Phone:  01 7939432
Email:  Austin.Agbareh@royalexchangeplc.com or
Wilson.Okoh-Esene@royalexchangeplc.com
Web:  www.royalexchangeplc.com