International Energy Insurance Plc (IEI), a Nörrenberger Group company, has announced that it has successfully exited the long-standing Daewoo loan and is now firmly repositioned for sustainable growth and improved corporate performance.
The insurer confirmed in a statement dated October 6, 2025, that the Nigerian Exchange Limited (NGX) has officially lifted the suspension on the trading of its shares following the completion and release of its 2024 audited financial statements.
The suspension had been imposed over regulatory compliance matters related to the delayed filing of the accounts.
With the completion of its audited report and full settlement of the Daewoo facility, IEI said it has achieved one of its most important milestones toward balance-sheet recovery and operational stability.
The development restores normal trading activities for the company’s shares and signals renewed investor confidence in its governance and financial transparency.
The company stated that it remains focused on executing a strategic recapitalisation programme designed to strengthen its financial base, enhance underwriting capacity, and expand customer-focused insurance solutions across Nigeria.
Management added that the recapitalisation drive aligns with its long-term strategy to reposition IEI as a strong, responsible, and compliant insurer fully aligned with National Insurance Commission (NAICOM) regulations.
Chairman Alhaji Bukar Goni Aji, OON, CFR, and Managing Director Olasupo Sogelola, together with the board comprising Tony Edeh, Mohammed Mijindadi, Chamberlain S. Peterside (PhD), Adeyinka Hassan (PhD) and Oluwateniola Eleoramo, reaffirmed the company’s commitment to operational excellence, corporate governance, and stakeholder value creation.
IEI expressed appreciation to regulators, shareholders, and customers for their continued support throughout the compliance process.
It described the lifting of the suspension and the retirement of the Daewoo debt as a “new chapter of stability and progress” for the organisation.
The company added that it would continue to invest in technology, process improvement, and risk management frameworks to consolidate its recovery and deliver consistent value to policyholders and investors.
International Energy Insurance Plc, licensed by NAICOM (RIC 020), operates from its head office in Lagos with regional offices in Abuja and Port Harcourt.