FBN plans to broaden insurance business in Nigeria

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FBN Insurance Limited, an FBN Holdings company associated with the Sanlam Group SA, says it is committed to taking insurance to the nooks and crannies of the country.

The Managing Director, FBN Insurance Limited, Val Ojumah, said that the company was willing to provide affordable and responsive insurance to the public.

He said, “Our strong presence in the retail space cannot be disputed. With our over 2,000-man strong retail team, we are increasing our investment in the retail space so as to be able to reach everyone.

”In spite of the number of insurance companies in Nigeria, we are yet to scratch the surface in terms of the potential of the Nigerian market. As a company, we are looking to consolidate our retail presence, improve on our delivery time and achieve a most effective process for our key functions and deliveries,” he said.

While commenting on the company’s performance in 2016, he observed that it was a tough year, in which inflation figures maintained double digits.

He said various reports indicated an increase in claims settlement across the industry and massive job losses due to the economic meltdown, which put a strain on insurance industry.

Ojumah said, “However, at FBN Insurance, we have kept to our philosophy of doing what we say. We think highly of our customers; come what may, we will always put them first,” he said.

The Head of Marketing and Corporate Communications, Elizabeth Agugoh, said in just over six years of incorporation, FBN Insurance Limited had consistently delivered outstanding performance even in the light of dwindling economic fortunes of the past two years.

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