{"id":362881,"date":"2017-02-13T10:12:30","date_gmt":"2017-02-13T10:12:30","guid":{"rendered":"http:\/\/ghana-mma.com\/business\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/"},"modified":"2017-02-13T10:12:30","modified_gmt":"2017-02-13T10:12:30","slug":"beige-group-acquires-u-life-daily-guide-africa","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/","title":{"rendered":"Beige Group Acquires U-Life"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Mike Nyinaku, Beige Group CEO<\/strong><\/p>\n<p>The BEIGE Group\u00a0(TBG), a financial services provider, has announced the successful completion of its acquisition of Unique Life Assurance Company Limited (U-Life), a licensed life assurance firm in Ghana.<\/p>\n<p>The transaction had been ongoing for some time to ensure compliance with regulatory due diligence and involves a one-year business transformation plan, including a growth in U-Life\u2019s capital base.<\/p>\n<p>TBG has already invested a significant majority stake in U-Life and has also paid over GHc1.3million in claims to ensure that commitments to customers are met on time.<\/p>\n<p><strong>Impact <\/strong><\/p>\n<p>U-Life will continue to provide policy administration and claims services.<\/p>\n<p>Customers will also continue to access the company\u2019s full suite of life and casualty products and services. Without interrupting the smooth flow of the day-to-day business activities, the business model of the institution and their management structure would be improved to conform to the standards of\u00a0TBG.<\/p>\n<p>Thus, U-Life would be rebranded to conform to the brand standards of BEIGE and its procedures also transformed to reflect the standards of The BEIGE Group to provide a broad range of financial services.<\/p>\n<p><strong>Market position<\/strong><\/p>\n<p>This acquisition further strengthens\u00a0TBG\u2019s market position in the provision of financial services and significantly increases the group\u2019s assets under management.<\/p>\n<p>Approximately 550 Insurance employees from operations, predominantly marketing, will join U-Life and provide dedicated support beyond this one-year business transformation plan.<\/p>\n<p>Together with its subsidiaries and affiliates,\u00a0TBG\u00a0is currently providing direct employment to about 4,000 people and serving a clientele base in excess of 600,000 clients.<\/p>\n<p>\u201cWe are carefully executing an agenda whose end is to place us in a position of advantage as we seek to establish a platform that will serve as Ghana\u2019s supermarket for Financial Services. We have the distribution network that would support an effective roll out of a variety of insurance products to the market so we\u2019d hit the ground running,\u201d Mr. Nyinaku added.<\/p>\n<p>Unique Life Assurance Company Limited was established in August 2007, and offers life products for the lower to middle-income market.<\/p>\n<p>The company has 12 branches nationwide in Accra, Tema, Kumasi, Takoradi, Koforidua, Hohoe, Suhum, Nkawkaw, Sunyani, Techiman, Tarkwa and Obuasi.<\/p>\n<p><strong>A business desk report<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mike Nyinaku, Beige Group CEO The BEIGE Group\u00a0(TBG), a financial services provider, has announced the successful completion of its acquisition of Unique Life Assurance Company Limited (U-Life), a licensed life assurance firm in Ghana. The transaction had been ongoing for some time to ensure compliance with regulatory due diligence and involves a one-year business transformation [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-362881","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Beige Group Acquires U-Life - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Beige Group Acquires U-Life - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Mike Nyinaku, Beige Group CEO The BEIGE Group\u00a0(TBG), a financial services provider, has announced the successful completion of its acquisition of Unique Life Assurance Company Limited (U-Life), a licensed life assurance firm in Ghana. The transaction had been ongoing for some time to ensure compliance with regulatory due diligence and involves a one-year business transformation [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Beige Group Acquires U-Life\",\"datePublished\":\"2017-02-13T10:12:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/\"},\"wordCount\":367,\"commentCount\":0,\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/\",\"name\":\"Beige Group Acquires U-Life - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"datePublished\":\"2017-02-13T10:12:30+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/13\\\/beige-group-acquires-u-life-daily-guide-africa\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Beige Group Acquires U-Life - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/","twitter_card":"summary_large_image","twitter_title":"Beige Group Acquires U-Life - Ghanamma.com","twitter_description":"Mike Nyinaku, Beige Group CEO The BEIGE Group\u00a0(TBG), a financial services provider, has announced the successful completion of its acquisition of Unique Life Assurance Company Limited (U-Life), a licensed life assurance firm in Ghana. The transaction had been ongoing for some time to ensure compliance with regulatory due diligence and involves a one-year business transformation [&hellip;]","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/"},"author":{"name":"","@id":""},"headline":"Beige Group Acquires U-Life","datePublished":"2017-02-13T10:12:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/"},"wordCount":367,"commentCount":0,"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/","url":"https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/","name":"Beige Group Acquires U-Life - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/#website"},"datePublished":"2017-02-13T10:12:30+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2017\/02\/13\/beige-group-acquires-u-life-daily-guide-africa\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2017\/#website","url":"https:\/\/www.ghanamma.com\/2017\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2017\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/362881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/comments?post=362881"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/362881\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/media?parent=362881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/categories?post=362881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/tags?post=362881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}