ENERGY & POWER
We recognize the strategic importance of oil and gas to Nigeria’s economy and it remains the backbone of Nigeria energy and power industry. Operating in Nigerian energy sector is uniquely challenging and as non-admitted insurance market operators must comply with the Nigerian Local Content Laws.
IBN has been relentless in our pursuit in harnessing and developing indigenous insurance market capacity, human capital skills for the complex risks of exploration, production operation of oil and gas activities of large, independent, mid-stream, downstream and contracting companies.
Why Our Clients Value IBN?
Our firm, Insurance Brokers of Nigeria (IBN) has been in the forefront in developing specialist risk and insurance management solutions in the Nigerian Energy Sector for more than three decades.
We helped in pioneering the streamlining of the national oil company’s interests in joint-venture operations with International Oil Companies (IOC) into a single consolidated insurance program thereby harness its leverage in the local and international energy insurance market.
We guided indigenous Nigerian entrepreneurs and concessioners who ventured into Nigeria’s energy industry; developed primary and wholesale insurance facilities for them to enable confidently and successfully participate as independent exploration and production firms.
IBN remains the only local firm with specialist skills in loss control engineering, team of corporate risk managers experienced both in local and international energy insurance operations in Nigeria, a legal team, certified risk management and insurance professionals that had worked in energy, underwriting and insurance broking firms. This positions IBN as a 360 support for our clients.