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Chuks Udo Okonta
Unitrust Insurance Company Limited has been endorsed and rated as a progressive underwriter worths doing business with by the Nigerian Council of Registered Insurance Brokers (NCRIB).
The firm got the endorsement when it played host to brokers fraternity during their monthly Members Evening programme yesterday in Lagos.
President of the NCRIB Dr. (Mrs.) Bola Onigbogi, who led other brokers to endorsed the underwriting firm, noted that the company had distinguished itself by being brokers friendly and had over the years surpassed all expectations.
She congratulated the Managing Director of Unitrust Insurance Company Limited, John ijerheime and his team for their success stories so far, while assuring them that their profile and account would soar after the meeting with brokers,
The Managing Director of the underwriting firm who was represented at the event by the company’s Executive Director, Technical, Mrs. Yetunde Adenuga; noted that the firm had over the years maintained a robust relationship with brokers, stressing that the relationship would be sustained to ensure growth of the insurance industry.
He submitted that since 1986 when the company started operations, it has continued to experience a steady growth, adding that the firm’s approved financials for 2021 revealed a total assets of N18.72 billion; shareholders’ fund of N14.31 billion and solvency margin of N8.92 billion.
According to him, the company’s total net claims paid in 2020 was N598.84 million, whilst N934.70 million has been paid from January 2021 till date.
He maintained that following Federal Government’s directives for recapitalisation of insurance companies in 2019, the firm has put in arrangements in place to remain at the forefront.
He posited that the firm’s strategic focus has continued to lean on sustainable growth, while improving on its delivery channels through digital adoption, especially its e-insurance channels which harbor motor; marine and travel the insurance.
According to him, Learning from the past, the firm has taken deliberate steps to improve risk management framework and corporate governance.
He expressed gratitude to the NCRIB for the opportunity given to the company to host the event, and pledged that Unitrust Insurance would continue to put in its best to ensure it delivers beyond expectations and also ensure a cordial mutual relationship is maintained with brokers.
