Founded in 1969 as Nigeria Exchange Insurance Company Limited as the country’s first-ever dedicated energy-risk underwriter.
The firm rebranded and refocused as International Energy Insurance Plc (IEI) in 2003. It specialises in covering onshore and offshore energy operations, such as oil, gas, petrochemicals, power, and renewables, alongside general lines like fire, motor, aviation, engineering, and marine liability.
In July 2022, Norrenberger Advisory Partners Limited (NAPL), an industry-leading integrated financial services group, took a majority stake in IEI, following NAICOM approval, triggering a refreshed leadership and strategic direction. This acquisition marked the start of a major operational and financial turnaround.
Under the leadership of seasoned insurance expert Olasupo Oladeinde Sogelola, MD/CEO, IEI has leaned heavily on fresh strategic vision. Sogelola brings extensive experience in risk underwriting, sales, operations, and financial restructuring to the firm.
With the backing of Norrenberger, IEI has crafted a robust five-year growth plan anchored in market innovation, stakeholder value creation, and strategic expansion. Early steps, including recapitalisation, liabilities clearance, and a debt-free balance sheet, underscore its ambition to position itself as one of Nigeria’s leading insurers.
