InsuResilience Investment Fund, a fund managed by BlueOrchard Finance S.A., Asset Management Arm, signed an agreement to acquire 39.25% stake in Royal Exchange General Insurance Company Limited from Royal Exchange Plc (NGSE:ROYALEX) on July 18, 2019. InsuResilience Investment Fund will appoint nominees to the Board of Directors. The investment is subject to the satisfaction of closing conditions set out in the transaction agreements. The investment has been approved by the regulator of REGIC, the National Insurance Commission. The proceeds of the investment will help Royal Exchange General Insurance Company to spur growth by increasing the company’s risk capital and supporting its underwriting capacity in agriculture, hereby extending its outreach to low income farmers. Ernst & Young Nigeria acted as due diligence provider and Udo Udoma & Belo-Osagie acted as legal advisor to BlueOrchard Finance S.A., Asset Management Arm. Alkebulan Ltd acted as financial advisor and Sefton Fross acted as legal advisor to Royal Exchange General Insurance Company Limited.