FBNInsurance settles N5.4bn claims in Nine Months

From Ngozi Onyeakusi , Lagos

FBNInsurance Limited, has settled claims worth N5.4bn to its clients at the end of the third quarter of 2019,
Commenting on the claims settlement, the Managing Director/ Chief Executive Officer, Val Ojumah noted that the focus of the company is to maintain the indisputable leadership position in the life insurance sub-sector by paying claims promptly and at the same time protect the interest of its various corporate and individual clients.
According to him, “Ours is a business of trust and as part of our efforts geared towards maintaining irrefutable leadership in the life insurance sub-sector, we have built a solid foundation where our clients can insure their trust by promptly paying their claims. We have also deepened our footprints across Nigeria in our quest to serving our customers and shareholders even better than we have done in previous years.”
He further reiterated that “Customer satisfaction is the fulcrum of insurance business and this inevitably builds customer loyalty and we will not fail to ensure this. We believe once FBNInsurance is able to pay customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise, FBNInsurance will be able to meet its financial obligations to them.”
You will recall that FBNInsurance paid N4.8bn claims in 2018, despite the unpredictable economic situation in the country occasioned by the preparation for the general election at that time.
FBNInsurance is an FBNHoldings company associated with the Sanlam Group SA and was incorporated in 2010 to transact life insurance business in Nigeria and currently operates out of over 40 sales outlets and two branches nationwide.