In 1994, Libra Insurance Brokers Limited was established and issued RC-255893 by the Corporate Affairs Commission of Nigeria to transact business as insurance brokers and pension consultants. Over the years, the company managed the pension portfolios of several blue-chip companies which grew to over 5 Billion naira as at 2003.
Issued with our initial insurance broking licence number RBC-050 by the National Insurance Commission (NAICOM), we belong to the generation of insurance brokers that engaged in bringing back the confidence in the insurance mechanism.
The enactment of the Pension Reform Act of 2004 by the National Assembly (and the subsequent amendment as Pension Reform Act of 2014) barred insurance companies and intermediaries from the management of pensions and led to the establishment of pension fund managers and custodians. Libra Insurance Brokers took up the gauntlet to increase its stake in core insurance broking and risk management services.
We have established ourselves as the ‘go-to’ insurance professionals on personal and commercial lines especially in oil and gas (energy) risks. As at the end of 2017, we arrange insurance programmes and policies for our clients’ portfolios of assets and liabilities which exceed 1.5 trillion naira (6.5 billion dollars) annually.