Nexamont Company Limited has emerged as a significant shareholder in Royal Exchange Plc with the acquisition of a 21.4 per cent equity stake, cementing its position in one of Nigeria’s oldest insurance groups.
In a corporate disclosure filed with the Nigerian Exchange Limited, the company secretary, OOT Nominees, confirmed that Nexamont acquired 1,770,499,535 units of Royal Exchange shares through the secondary market.
The acquisition marks an increase from Nexamont’s previous holding of 19.08 per cent, or 1,577,399,535 units, as reported in Royal Exchange’s half-year financials.
“Royal Exchange Plc received a letter from Nova Finance Securities Limited, the Financial Advisers to Nexamont Company Limited, notifying the company that Nexamont has acquired 1,770,499,535 units of ordinary shares of Royal Exchange Plc through the secondary market. This represents a 21.4 per cent equity stake,” OOT Nominees stated.
Royal Exchange, which began operations in Nigeria in 1918, is associated with Royal Exchange General Company Limited (now REX Insurance), Royal Exchange Micro Limited, and Royal Exchange Healthcare Limited (now DotHMO).
The acquisition underscores renewed investor interest in legacy insurance firms as regulatory reforms, digitalisation, and capital strengthening continue to reshape Nigeria’s insurance industry.
