The Management of Unitrust Insurance, has said that the secret of the company’s success has been on its strategic focus on sustainable growth, and consistent improvement on its delivery channels through digital adoption.
The company said emphasis has been on its e-insurance channels which harbor motor; marine and travel insurance.
The company’s Managing Director, John ijerheime, who disclosed this when his company played host to the umbrella body of insurance brokers, the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos said 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 ensures a cordial mutual relationship with the brokers.
The company, at the event was endorsed and rated as a progressive underwriter worth doing business with by the NCRIB.
The NCRIB President, Dr Mrs.Bola Onigbogi, who led other brokers to endorse 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 Management team for its success stories so far, while assuring them that the firm’s profile and account would soar after the meeting with brokers.
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.
She 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 her, 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.
She maintained that following federal government’s directives for recapitalisation of insurance companies in 2019, the firm has put arrangements in place to remain at the forefront.