By Agency Reporter

Wednesday, 27 Oct 2010

Niger Insurance Plc said on Tuesday that its gross premium rose to N7.2bn in 2009 from N5.2bn in 2008, while its net premium rose to N6.4bn in 2009 from N4.7bn in 2008.

A statement issued by the company said the it paid a total claim of N519.14m in 2009. It added that its asset base now stood in excess of N15bn.

The Managing Director of the company, Mr. Justus Uranta, said that despite the global financial crisis, Niger Insurance had successfully maintained its core operations of risk bearing and claim settlement due to its financial stability and operational efficiency.

He added that the company had continued to develop its human capital, and that it had in its capacity well-qualified and seasoned professionals willing to go the extra mile to exceed customers expectations.

Because of the priority that the firm places on human capital, he said that Niger Insurance had continued to expose its employees to both international and local trainings.

Recently, he said, 15 of the company‘s employees passed the examinations of the Chartered Insurance Institute of Nigeria to become chartered insurers.

Uranta disclosed that as part of efforts to ensure that the firm continues to render excellent services to the customers, the company is currently undergoing a corporate transformation and re-engineering which is termed Niger Enterprise Strategy Transformation.

He explained that the key elements of this project are networking through strategic partnership, integrity being the hallmark of its corporate stewardship, having a global competitive outlook, empowerment to build a successful future and reliability being its signpost for excellent service delivery.

Uranta said, ”The current transformation process is also reflected in the new vision of the organisation which is: to become the insurance company of first choice in Nigeria noted for high level transparency, efficiency, capacity and enhanced customer service.”

The Niger Insurance boss said the company was engaging in various programmes such as strategic partnership with stakeholders in the industry, re-engineering through human capacity building and acquisition of up to date information and communication technology facilities, and an improved investment policy through strategic horizontal and vertical diversification.

He added that plans have been concluded to ensure that customers are able to communicate and relate with the company on line real-time through its recently acquired platform within a very short time from now.

He said that Niger Insurance has also repackaged its travel insurance cover in partnership with MapFre/Asistencia. The travel insurance is valid for use in any of the shengen countries and other European countries.

 

Source: Punch