STACO INSURANCE PLC

STACO INSURANCE PLC, a prominent Nigerian insurer, originated with its incorporation on October 10, 1991, initially as Standard Trust Assurance Plc (STACO). The company began its non-life insurance operations on October 1, 1994, following a strategic acquisition and restructuring of Alpha Insurance Plc in July 1994. Further solidifying its market position, the company underwent a name change to STACO Insurance Plc in October 2006, resulting from a merger with Summit Insurance Company Limited. This evolution culminated in its listing on The Nigerian Stock Exchange on June 25, 2007, marking its enduring presence in the financial services sector. The company's core business involves underwriting general insurance and special risks, offering a comprehensive suite of non-life insurance products and services to both retail and corporate clients primarily within Nigeria. Its diverse offerings include accident insurance such as fidelity guarantee, professional indemnity, and public liability, alongside transportation insurance covering motor, marine, and aviation. STACO INSURANCE PLC also provides fire and bond insurance, encompassing fire and special perils, all risks, and engineering coverage, as well as energy and special risks insurance including oil and gas and pollution liability. Additionally, the company develops customized solutions like personal protection plans and homeowners' insurance, and is actively developing its micro insurance offerings. STACO's market reach extends across Nigeria's public and private sectors, serving industries like Oil and Gas, Engineering/Construction, Manufacturing, Trade, Aviation, and Marine. The company's international footprint includes a 60% partly owned subsidiary, Staco Insurance Company (Sierra Leone) Limited, which provides both life and non-life insurance services to clients in Sierra Leone.