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  • Articulated the first 5 year strategy with a clear objective of becoming ‘a top 2 fully serviced African Insurance company”
  • Concluded divestment arrangements with former parent Companies
  • Secured AM Best rating.


  • Access Bank divests from Wapic Insurance Plc.
  • Shareholder base grows to 850,000


  • Raised additional capital through a Rights issue and concluded a strategic acquisition of a property company; Intercontinental Properties Limited.
  • Became a top 5 Insurance Company in Nigeria by Shareholders’ Fund and Total Assets.


Wapic became a subsidiary of Access Bank Plc following the acquisition of its former parent company by the Bank.


Wapic expanded presence to Ghana by establishing Wapic Insurance (Ghana) Limited, a wholly owned subsidiary with general insurance license.


Expanded scope of operations to Life Assurance by establishing Wapic Life Assurance Limited


Wapic became a publicly quoted Company and listed its shares on the floor of the Nigerian Stock Exchange.


Established in 1958 as a subsidiary of Provincial Insurance Company, United Kingdom; the Company was incorporated as the West African Provincial Insurance Company (Wapic). The first alphabets of these words were later to become the acronym from which the Company’s name is coined.