FBNInsurance named AfricaRe/AIO Insurance Company of the Year – FBNInsurance has been named the Insurance Company of the Year at the just-concluded 45th AfricaRe/AfricanInsurance Organisation (AIO) conference in Accra, Ghana.
Established in 1972, AIO promotes inter-African co-operation in insurance and develops a healthy insurance and reinsurance industry in Africa.
The awards recognise outstanding firms and individuals who have made remarkable contribution to the African insurance industry.
While acknowledging the company’s rapid growth, the organisers referenced the average growth of 57.36 per cent in premium income over the last three years, 58.6 per cent of net profit and 43 per cent of shareholders’ funds.
Figures from the company’s released audited statement revealed the company recorded a 98 per cent growth on her year-on-year premium and a 37 per cent increase in her profit before tax over the full financial year.
FBNInsurance Managing Director, Val Ojumah thanked the organisers for the award and dedicated it to the firm’s owners – FBNHoldings and Sanlam SA – the Board, Management and staff of his company.
He said: “The AIO awards remains one of the most sought-after on the African continent for many reasons. We are honoured to win the prestigious Insurance Company of the Year award as this strengthens our position as the fastest growing insurance company in Nigeria and a thriving business on the continent. It is also another confirmation that our corporate strategy works.
“The company has defied the odds to become one of the leading life insurers in Nigeria’s sceptical market. With a robust agency structure boasting over 2000 sales agents, the company has consistently delivered on its strategic objectives by offering responsive insurance products to the market. The AfricaRe/AIO Insurance Company of the Year is the company’s third major award in the past one year.’’
