SUNU Officially Takes Over Equity

The management of SUNU Assurances has finally taken over Equity Assurance following final documentations.

SUNU Assurances is a subsidiary of SUNU Assurance Group, a multi-million-dollar insurance company worldwide including 14 African countries.

It could be recalled that SUNU Assurance Group in the early part of this year secured a 63 percent ownership of Equity Assurance, which accounts for US$566,540 worth of shares bought by the French-based insurance giant.

Accordingly, official takeover by SUNU Assurances was held Wednesday, September 19, 2018 at the Monrovia City Hall. With the official takeover, the company is now called SUNU Assurances-Liberia.

Speaking at the official turnover ceremony, the Chairman of SUNU Assurances-Liberia, Mr. Steve S. Kolubah, said the decision was aimed at creating a bigger financial service in the insurance industry.

According him, the SUNU Assurances’ presence in the sector here will make a great difference as the company aims to create more investment opportunities.

“The rebranding of Equity to SUNU Assurances that we are witnessing here today is owed to our many customers. Some of you, our clients, continue to stay with us because you trust us. Thank you for your confidence reposed in us,” Kolubah stated.

With the coming in of SUNU into the insurance industry, he added: The journey has just begun for greater things to happen.”

Mr. Karim-Franck-Dione, Head of Management Control and Financial Management Divisions, said SUNU Assurances-Liberia will be the insurance reference in Liberia, as it gears to diversify the sector.

“SUNU-Group expects SUNU Assurances-Liberia to set an example in the insurance industry,” Dione stated.

He vowed SUNU Assurances-Liberia’s commitment of exercising its social responsibility in all areas including sports and in the fight against diseases.

“We want to invest in the economy while at the same time meeting the interest of our people. SUNU will play its part as a responsible company. SUNU-Liberia is here to stay,” he indicated.

Mr. Jay G. Brown, Deputy Director for Insurance at the Central Bank of Liberia (CBL), said he was pleased with the decision and that he continues to have explicit confidence in the operations of SUNU Assurances.

Brown noted that the takeover is good for the overall development of the insurance industry, adding that CBL places premier on the operations of insurance companies in the country.