SAN FRANCISCO/LAGOS, July 24, 2015–Worldwide Broker Network™ today announced that ARK Insurance Brokers Limited of Nigeria has joined WBN, bringing the fully integrated WBN network of independent insurance brokers and employee benefits consultants to 103 member firms in 101 countries on 6 continents. The network also includes 8 Associate Member firms providing a wide range of insurance-related services.
Founded in 1972 and headquartered in Lagos, ARK has nearly 60 employees providing a wide range of insurance and employee benefits services to Nigerian and Sub-West African Multinationals, Corporations, Financial Institutions, Manufacturing, Small and Medium Sized Enterprises, Logistics, High Net Worth Individuals and Government clients. The firm is particularly noted for its capabilities in Oil & Gas, Marine/Hull & Cargo, Construction, Logistics, Aviation, Life and Reinsurance.
In addition to its headquarters in Lagos, ARK has offices in Abuja, Port-Harcourt, and Warri, Nigeria, as well as in Accra, Ghana.
“As Africa’s most populous country and largest economy, growing at 6-8 percent annually and including industries ranging from agriculture to oil and gas production, it is only natural for Nigeria’s leading independent insurance broker to be a member of the WBN Network. We look forward to ARK’s contributions in producing and servicing cross-border insurance and employee benefits services,” said Bruce Basso, WBN’s chief executive officer.
Kayode Awogboro, ARK’s Chief Executive Officer, said “Having served the needs of ARK’s growing economy for more than 40 years, we consider ourselves more than insurance brokers, but rather risk management specialists. Our outlook is global, but with a local content focused to meet the expectations of our broad ranging clientele. We understand the importance of knowledge resources, particularly in serving the cross-border insurance and employee benefits needs of clients. WBN’s position as the largest network of leading independent firms across the globe will enable us to add value to our clients as well as to organizations around the world seeking to do business in Nigeria.”
Mr. Awogboro and Francis Awogboro, ARK’s Chairman of the Board, have held Lloyds of London broking licenses since 2003 and 1968, respectively, making them the first Nigerian father-son pair to hold broking licenses from Lloyds.
Founded in 1989, WBN has grown from 9 firms in Western Europe to more than 100 firms spanning the globe and serving clients through approximately 500 offices on six continents. These generally are among the largest independently owned firms in their respective markets, providing the highest degree of client service to both insurance and employee benefits clients. As a result, WBN has become an important part of the industry’s distribution network, generating an estimated $35 billion in Property & Casualty and Employee Benefits Premiums annually. WBN’s Central Office is located in San Mateo, California, between San Francisco and the Silicon Valley.