Zenith General Insurance Company Limited (ZGIC) and Zenith Life Assurance Company Limited (ZLAC) are wholly owned subsidiaries of Zenith Bank Plc. Other members of the Zenith group include Zenith Securities Limited, (Stockbroking/Asset Management Firm), Zenith Registrars Limited, Zenith Pensions Custodian Limited and Cyberspace Networks (IT Company).
Moreso, there is a subsidiary named Zenith Medicare Assurance Company Ltd that offer Health Insurance Services.
Zenith General Insurance Company Ltd. is a buy-over of Piccadilly Insurance Company Limited, which was incorporated in 1970. Piccadilly was bought over in 1994 by new shareholders with an authorised share capital of N100 million with N25 million fully paid.
In 2003, Piccadilly was bought over by ZENITH BANK PLC, which is currently one of the most capitalised (the bank’s post Initial Public Offering (IPO) stood at N36 billion) and third most profitable bank in Nigeria with a total assets plus contingent liabilities of N370 billion and a profit before tax of N9.2 billion as at June 30, 2005, and renamed: ZENITH GENERAL INSURANCE COMPANY LIMITED (A subsidiary of Zenith Bank Plc).
In line with the recapitalisation directive from the National Insurance Commission, they currently have an authorized share capital of 6,000,000,000 ordinary shares of N1.00 each out of which 600,000,000 million ordinary shares have been issued and fully paid. Thus we are well positioned to provide efficient and effective solutions to your risk management issues, with the objective of making our various clients feel our impact in every sphere of their lives in a positive way.
The Head Office is located at Plot 280a, Ajose Adeogun Street, Victoria Island, Lagos with branches in major metropolis of the bank.
Thestaff in the organization are composed of an efficient and dedicated workforce that is always ready to act in the best interest of our numerous clients, as the Zenith Group is renowned for. The companies presently operate branches in Port Harcourt, Warri, Abuja, Enugu, Kano, Ibadan, Benin, Asaba and Kaduna. Just like Zenith Bank, ZGIC & ZLAC will soon have branches spread over Nigeria's major metropolitan centres with the same unique Zenith Brand of financial services awaiting customers in each location.
In the face of high market expectations and highly competitive environment, we intend developing business models based on solid processes.