The National Pension Commission (PENCOM) on Tuesday 5th July 2022, approved the change of name for IEI-Anchor Pension Managers Limited to Norrenberger Pensions Limited.
The name change comes as a result of Norrenberger’s acquisition of International Energy Insurance and the consequent recapitalization of IEI Anchor Pension Managers Limited, following PENCOM’s recapitalization requirement for PFAs to shore up their capital base to NGN5 billion.
With the acquisition, Norrenberger makes an entry into the Pension Industry and intends to further strengthen its brand to create more opportunities for its clients by leveraging on technology to revolutionize the pensions industry.
Commenting on the acquisition, the Group Managing Director/Chief Executive Officer of Norrenberger, Tony Edeh, said the name change will realign the core values of the PFA with that of Norrenberger, to deliver more value for all stakeholders, noting that Norrenberger has a clear growth strategy for the PFA. Mrs. Jolaade Oduntan, the Managing Director of Norrenberger Pensions Limited (formerly IEI Anchor Pensions Managers Limited), expressed her excitement over the opportunity to formally join the Norrenberger Group. She opined that the future holds much promise and can only get brighter with the name change as the organization intends to soar and conquer new heights, riding on the Norrenberger brand.
About Norrenberger
Norrenberger is a leading, independent financial services group that provides bespoke financial solutions to its clients through Asset Management, Investment Banking, and Securities Trading. With the acquisition of IEI Group, Norrenberger makes an entry into the Insurance and Pensions industries.
