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Chuks Udo Okonta
FBNInsurance Limited, a leading insurer in Nigeria, recently concluded its Annual General Meeting (AGM) in Lagos and the shareholders approved a full year dividend of 74 kobo per ordinary share for the year end 2021.
Speaking at the Annual General Meeting, Mr. Val Ojumah, the Managing Director/Chief Executive Officer of FBNInsurance Limited, stated that FBNInsurance financial performance in 2021 demonstrates the company’s strong footing despite the challenging operating environment in 2021. “We are pleased with our 2021 financial year end results and also grateful for the trust that our shareholders have in our ability to continue to grow the business,” Mr. Ojumah commented.
Ojumah further stated that while the nation anticipates an improved economy, FBNInsurance Limited remains adaptable and responsive to the unfolding trends, modifying plans and operations in a manner that would ensure the company achieves its strategic objectives.
The dividend declared for year 2021 is a 6% increase from 70k that was declared in 2020. It is worthy to note that FBNInsurance Limited has consistently paid dividend to its shareholders in the last 8 years.
Recall that it was earlier reported that the underwriting firm paid claims to the tune of N16.1 billion to its customers in 2021.
FBNInsurance is a Limited Liability Company licensed to transact Life Insurance business in Nigeria, providing cover for Individual and corporate clients with strong presence in almost every state in the country. FBNInsurance is also a member of the Sanlam Group, a leading diversified, pan-African financial services group. Leveraging the strength of the Sanlam Group brand, FBNInsurance is strategically positioned to transform the insurance industry in Nigeria. The company has won several awards including, Best Life Insurance Company in Nigeria by World Finance 2014, 2016, 2017, 2019 & 2020; Best Insurance Company in Africa by the African Insurance Awards, 2018; Fastest Growing Insurance Company by the National Association of Insurance and Pension Correspondents, 2018; Augusto & Co. A+ rating in 2016 & 2018 and Certified as a Great Place to Work, Medium-Sized Organisation 2019.