August 29, 2025 — International Energy Insurance Plc (IEI) has announced the successful settlement of its outstanding loan obligations to Daewoo Securities, now operating as Mirae Asset Securities (UK) Limited.
In a disclosure filed with the Nigerian Exchange, the insurer confirmed that it has fully repaid the JPY 1.85 billion (approximately ₦18.5 billion) zero-coupon bond facility, which was originally due for repayment in 2028.
The company described the clearance of the debt as a major milestone in strengthening its balance sheet and positioning for sustainable growth in Nigeria’s insurance sector. Industry analysts note that the early repayment could boost investor confidence and enhance IEI’s capacity to underwrite bigger risks in energy and infrastructure.
With this development, IEI is expected to redirect resources towards expanding its operations, consolidating its market presence, and deepening penetration in Nigeria’s underdeveloped insurance space.