IBN put over ₦10 billion into insurance market annually

Insurance Brokers of Nigeria Limited has disclosed that it deploys excess of ₦10 billion into the insurance market in Nigeria annually.

The Executive Vice Chairman of IBN, Prosper Okpue, disclosed this at the 2017 half year stock taking activities of the company where IBN also launched its new brand identity as the assurance of its commitment to its clients for another 62 years in the country.

The Nigerian insurance broking and risk advisory firm, IBN, was established in 1955 as C.T. Bowring & Company Insurance, to provide innovative and collaborative solutions to various strategic sectors of the Nigerian economy.

Okpue said IBN’s portfolio side ensured that it had access to the key decision makers of all insurance companies to negotiate the best deal for their clients, whether on programme pricing, robust cover or client settlement.

“Our new IBN brand identity is a demonstration of our resolve to continue to serve clients with our knowledge of the past, the present and our ability to bring the future today,” he said.

He said the IBN wholesale reinsurance division worked with local insurers/reinsurers and international reinsurance brokers to unbundle risks and create facilities that protected Nigerian reassured, in support of Nigeria’s Local Content and insurance regulations of a non-admitted market.

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