Cordros gets regulatory approval for three new subsidiaries in Insurance, Trustees, Registrars

Cordros Capital Limited has announced a major corporate expansion with the establishment of three (3) new subsidiaries. In a statement released to the media, the company announced that it had obtained all relevant licences and regulatory approvals to open shop for its Insurance Brokerage, Trustees, and Registrars businesses.

According to Wale Agbeyangi, group managing director, Cordros Insurance Brokers Limited has been granted an operating license by both the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM). Also, Cordros Trustees Limited, and Cordros Registrars Limited have been granted operating licenses by the Securities and Exchange Commission (SEC).

Following the achievement of this new corporate milestone, the statement confirmed that the new businesses will commence operations in earnest.

Agbeyangi explained that it has always been the passion of the Cordros Group to help its clients grow their wealth and assets, regardless of their economic class. “We are committed to delivering top-range financial services and consolidating our strengths to sustain leadership positions across our various businesses. This includes Securities Trading, Investment Banking, Asset Management, and now Insurance Brokerage, Trustees, and Registrars. We are also deploying the right technology to ensure all our services are accessible remotely, and our clients can achieve their investment objectives on the go” he added.

Charles Osezua, chairman board of directors, stressed in his comments that the announcement of the new businesses is in line with the strategic direction of the group to evolve into a leading financial services powerhouse in Nigeria, and with a bold intent for the rest of Africa.

It would be recalled that after commencing operation as a Securities Trading business in 2007, Cordros recorded significant milestones in 2010 and 2013 when it started its Investment Banking and Asset Management businesses, respectively.

Cordros Capital Limited is a company committed to growth—the growth of its clients and their assets. The company is a leading Financial Services group, licensed as Brokers/Dealers, Issuing House, Fund/Portfolio Managers, Trustees, and Registrars by the Securities & Exchange Commission (SEC), and the Nigerian Stock Exchange (NSE). The company is also licensed by the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM) as Insurance Brokers