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Insurer pays N1.15b claims to policyholders


Edwin Igbiti
Niger Insurance Plc has paid N1.15 billion to policyholders between 2020 till date, in its moves to oil the relationship with customers.
The company said it was working on enhancing its liquidity position through conversion of some of its real estate assets to further meet its obligations to policyholders.
Reacting to the recent publication in a national newspaper of its expulsion by the Nigerian Insurers Association (NIA) for failing to meet obligations to policyholders, the Managing Director/Chief Executive Officer of the company, Edwin Igbiti, said the firm would not relent in meeting customers’ expectations.
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According to him, “in addition to the commitment to policyholders, the firm had created a customer engagement forum to address customers’ complaints, which has been very effective in addressing concerns and inquiries, especially, in the present status of the company and management initiatives. ....

Edwin Igbiti , Niger Insurance Plc , Nigerian Insurers Association , Insurance Plc , Chief Executive Officer , நைஜர் காப்பீடு ப்ல் , நைஜீரியன் காப்பீட்டாளர்கள் சங்கம் , காப்பீடு ப்ல் , தலைமை நிர்வாகி அதிகாரி ,

Coronation Insurance Records Profit Growth


Coronation Insurance Plc said it achieved 461 per cent growth in its Profit After Tax (PAT) for the year ended Dec. 31, 2020. The underwriting firm also said it generated a gross premium income of N17.2 billion in 2020, as against N15.8 billion achieved in 2019 financial year.
This was contained in the company’s consolidated and separate financial statements recently released on the floor of the Nigerian Exchange Limited.
The company, during the period under review, posted PAT of N1.2 billion, compared with N214.33 million recorded in the comparative period of 2019.
Group gross written premium rose to N16.19 billion from N15.20 billion in 2019.
However, the company’s gross premium written grew to N11.64 billion from N10.71 billion recorded in 2019. The insurer said it paid N6.91 billion as claims in 2020, signifying a 69.5 per cent increase year-on-year. ....

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