WEST AFRICAN EXPLORATION AND PRODUCTION CO LTD (WAEP)
OPERATOR OF THE NNPC/WAEP JOINT VENTURE
TENDER OPPORTUNITY: GROUP LIFE, MOTOR VEHICLE, FIRE & SPECIAL, PERILS, ELECTRICAL, EQUIPMENT, GROUP PERSONAL ACCIDENT AND ENERGY PACKAGE INSURANCES
TENDER REFERENCE: W/20/5200.04.01
West African Exploration and Production Co. Ltd, Operator of the NNPC/WAEP Joint Venture is seeking qualified Insurers for the Provision of Insurance coverage for the following policies: Group Life, Motor Vehicle, Fire & Special Perils, Electrical Equipment, Group Personal Accident and Energy Package.
West African Exploration and Production Co. Ltd invites submission from reputable Nigerian registered Insurance Companies having ‘world class’ experience in the provision of insurance services for major Oil and Gas Companies
The various policies will cover the provision of sums insured/specified benefits to be advised. For the Naira Denominated policies, the insurer shall retain the risk in Nigeria. For the Dollar Denominated policy, the Insurer shall retain a percentage of the risk in Nigeria and re-insure the access capacity with leading foreign underwriters with A+ rating by S & P. The Insurer will liaise with the jointly appointed re-insurance Broker for the purpose of re-insurance with foreign underwriters. The Insurer will also handle claim services, policy documentation, renewals, endorsements etc.
