FBN General Insurance Ltd, at its 4th Annual General Meeting (AGM)which held recently, presented its 2019 audited Annual Report and Financial Statement to its Board of Directors.

 

While presenting the Annual Report and Financial Statement during the virtual Meeting, the Managing Director/Chief Executive Officer of the company, Mr. Bode Opadokun, disclosed that the company witnessed an impressive growth along key metrics and across major lines during the financial year.

 

According to Mr. Opadokun, ‘’ We grew our Gross Premium Written (GPW) by 58% from N4.63 billion in 2018 to N7.31 billion in 2019. We also recorded a 19% increase in Profit Before Tax (PBT) of N733 million compared to N615 billion recorded in 2018.’’

 

Further analysis showed that the company achieved 17% growth in its total assets in 2019, translating to N11 billion as against N9.4 billion recorded in 2018. The company also ensured prompt claims payment to its customers during the year to the tune of N2.3 billion.

 

Commenting on the results and future outlook of the company, the Chairman of the company, Mr. Gbenga Shobo remarked, “We are pleased with our 2019 financial year end results. We will continue to ensure the growth trajectory is sustained in 2020 financial year. While we anticipate some improvements along key macroeconomic fundamentals, we shall deploy strategies aimed at optimizing the inherent opportunities within the economy. We are quite optimistic that year 2020 will be the best so far for our shareholders and esteemed customers in the history of FBN General Insurance Ltd”.

 

Speaking further, Mr. Shobo stated that with the advent of the dreaded pandemic ravaging the globe, the company will continue to break new grounds, adapt to changes and relentlessly remain innovative in delivering value to its shareholders and customers.

 

FBN General Insurance Limited, a subsidiary of FBNInsurance Limited, wholly owned by the Sanlam Group, South Africa, was incorporated in 2014 to transact general insurance business in Nigeria with branches across the country.

webmaster
June 22nd, 2020

FBN General Insurance pays claim to Akesan fire victims

FBN General Insurance, a subsidiary of FBNInsurance Limited, has once again proven its unwavering commitment to its clients. The company in January this year paid claims to two of its clients who were fire victims of the Akesan Market, Ibadan, Oyo State.

The company paid a claim of N2,131,559.60 (Two Million, One Hundred and Thirty-One Thousand, Five Hundred and Fifty-Nine Naira, Sixty Kobo) and N2,231,550 (Two Million, Two Hundred and Thirty-One Thousand, Five Hundred and Fifty Naira) to the fire victims, Mrs. Kehinde Sherifat and Mrs. Alegbeleye Adepeju respectively.

While presenting the cheques to the victims, the Group Head, Business Development, FBN General Insurance, Mrs. Shola Osho, assured the clients of the company’s continued commitment to its policyholders. In her statement, she said, “Ours is a business of trust and at FBN General Insurance, our word is our bond. We are a responsive and reliable company and we will not let our customers down when they need us.”

While receiving the cheque, one of the elated claimants, Mrs. Kehinde expressed gratitude to the company and commended the efforts of the Management of FBN General Insurance for coming through in her trying times. “When I thought all was gone, FBN General Insurance restored hope to me. They promised to stand by me when the uncertainty happens and they fulfilled their promises. I am grateful to the Management of FBN General Insurance for coming to my aid.” She said.

Commenting on the company’s gesture, the other claimant, Mrs. Alegbeleye, said “FBN General Insurance is an insurer par excellence. I do not have any regret partnering this great company. They have proven to us beyond reasonable doubt that indeed their clients really matter. I will continue to insure my business as well as property with FBN General Insurance and also encourage other business owners like me to do same since one can live a worry-free life for choosing FBN General Insurance. “

The Executive Director, Operations, FBN General Insurance, Mr. Tunde Mimiko, also said that the company has put in place a seamless claim payment process to the satisfaction of all its clients across the nation.

FBN General Insurance pays claims to Akesan market fire victims
webmaster
June 8th, 2020

FBN General Insurance pays claim to Akesan fire victims

FBN General Insurance, a subsidiary of FBNInsurance Limited, has once again proven its unwavering commitment to its clients. The company in January this year paid claims to two of its clients who were fire victims of the Akesan Market, Ibadan, Oyo State.

The company paid a claim of N2,131,559.60 (Two Million, One Hundred and Thirty-One Thousand, Five Hundred and Fifty-Nine Naira, Sixty Kobo) and N2,231,550 (Two Million, Two Hundred and Thirty-One Thousand, Five Hundred and Fifty Naira) to the fire victims, Mrs. Kehinde Sherifat and Mrs. Alegbeleye Adepeju respectively.

While presenting the cheques to the victims, the Group Head, Business Development, FBN General Insurance, Mrs. Shola Osho, assured the clients of the company’s continued commitment to its policyholders. In her statement, she said, “Ours is a business of trust and at FBN General Insurance, our word is our bond. We are a responsive and reliable company and we will not let our customers down when they need us.”

While receiving the cheque, one of the elated claimants, Mrs. Kehinde expressed gratitude to the company and commended the efforts of the Management of FBN General Insurance for coming through in her trying times. “When I thought all was gone, FBN General Insurance restored hope to me. They promised to stand by me when the uncertainty happens and they fulfilled their promises. I am grateful to the Management of FBN General Insurance for coming to my aid.” She said.

Commenting on the company’s gesture, the other claimant, Mrs. Alegbeleye, said “FBN General Insurance is an insurer par excellence. I do not have any regret partnering this great company. They have proven to us beyond reasonable doubt that indeed their clients really matter. I will continue to insure my business as well as property with FBN General Insurance and also encourage other business owners like me to do same since one can live a worry-free life for choosing FBN General Insurance. “

The Executive Director, Operations, FBN General Insurance, Mr. Tunde Mimiko, also said that the company has put in place a seamless claim payment process to the satisfaction of all its clients across the nation.

FBN General Insurance pays claims to Akesan market fire victims
webmaster
May 18th, 2020

FBN General Insurance gives one-month discount to Comprehensive Motor Insurance customers

FBN General Insurance, a subsidiary of FBN Insurance Limited, has announced a one-time one-month discount to all her Comprehensive Motor Insurance policy holders. This discount was introduced to alleviate the pressures faced by clients with the imposed lockdown by the Federal Government due to the coronavirus pandemic. Commenting on the company’s gesture, the Managing Director/Chief Executive Officer, Mr. Bode Opadokun, said that the initiative was aimed at providing financial relief to customers at renewal. He further stressed that the initiative is a one-month discount applicable to all one-year full Comprehensive Motor Insurance policies due for renewal between May 1, 2020 and April 30, 2021.

“Due to the lockdown, driving habits changed as many people stayed at home. As a result of this, risk exposure on motor vehicles was significantly reduced as the frequency of usage was near zero. We are an organisation keen to satisfying and appreciating our clients. We have therefore introduced this discount to commend the efforts of our esteemed customers for adhering strictly to the lockdown guidelines as well as supporting the move of the Federal Government and health authorities to curb the spread of the dreaded virus. This offer is a one-off one-month discount for all our existing Comprehensive Motor Insurance clients only.” Opadokun said. Prior to this initiative, the company, in collaboration with her parent company, FBN Insurance Limited, made a donation of a fully equipped ambulance to the Lagos State Government as well as food items to the needy in communities within Lagos, to cushion the effect of the pandemic and lockdown.

The company admonished all her customers and Nigerians to continue to adhere strictly to all precautionary measures specified by the Federal Government and health authorities following the easing of the lockdown.  The company also promised to continue to support the Government’s efforts to contain the spread of the virus.

webmaster
May 12th, 2020

FBN General Insurance was awarded the Most Innovative Insurance Company by the Information Technology Association of Nigeria (ITAN) in December 2019. The award was premised on the local content drive of FBN General Insurance in the course of the year and more so, as the Company increasingly leverage technology across all of its relevant process points.

ITAN is an association of over 350 Information Technology-driven companies in Nigeria. It was founded in 1991 with the aim of promoting IT literacy and penetration in Nigeria; and to promote members’ interest in the area of trade, public policy formulation and negotiations with the government on IT policy matters.

webmaster
March 16th, 2020

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