BEIGE Group acquires U-Life

The BEIGE Group (BEIGE), the financial services provider, has announced the change of name of Unique Life Assurance Limited (U-Life) to BEIGE Assure Limited, following the successful acquisition of U-Life.

A licensed Life Assurance firm

A statement from the BEIGE Group said the management of BEIGE Assure Limited will continue, and bring to full accomplishment, the one-year business transformation plan which included an injection of additional capital to increase the Stated Capital of the licensed Life Assurance firm.

BEIGE has also paid over GHc1.3million in claims to ensure that commitments to customers are met on time.

Immediate impact of the acquisition

This change of name marks the final stage in the process of integrating U-Life into BEIGE. That is, to conform to the brand standards and procedures of BEIGE.

This move does not affect clients’ Policy(ies) and Contributions under our management. Rather, this puts us in a position to serve our clients better with a wider network of distribution offices nationwide and to provide effective life insurance services.

BEIGE’s evolution crystalising

BEIGE’s evolution into a conglomerate which provides a broad range of financial services is gradually settling, with an extension of its portfolio of businesses from the initial Banking services to include Pensions, Insurance and Investments.

The company is setting a platform which would conveniently be able to provide financial services to more Ghanaians nationwide.

Together with its subsidiaries and affiliates, BEIGE is currently providing direct employment to over 4,000 people and serving a clientele base in excess of 600,000.

Professor Stephen Adei, Chairman of The BEIGE Group said: “We are edging closer to setting up a bigger platform that has the capacity to deliver complete financial services to Ghanaians like never before in this country. I’m enthused to a part of the team that is putting it all together. Our clients have been supportive in this process and I sincerely thank them for having faith in us and working with us throughout this evolution and integration process”.