Regency Alliance Insurance Plc is to focus on profitability and professionalism in 2009. This agenda was set at the company's management retreat held recently in Lagos.

Addressing the opening session, the company's Managing Director, Mr. Biyi Otegbeye, said the com-pany's survival depends on its ability to meet the varying needs of its stakeholders. "The bottom line is very critical to consolidating our dominant position".

He charged the company's senior managers to work hard in 2009 so as to add value to customers through creative product development and professional touch. He also added that the managers must ensure that things are done rightly.

He continued, "You must all sharpen your professional skills in 2009. We must distinguish ourselves as professionals in the marketplace."

At the end of the retreat, the company's management set income target for the company and its subsidiaries. To achieve the target, Otegbeye said that all hands must be on deck, adding that staff would be adequately motivated. He also promised adequate reward for excellence performance.

Reviewing the company's operations in 2008, the CEO commended the efforts of the management team. "Despite all the challenges we faced, you proved your mettle as professionals."

He revealed that the com-pany's performance in the 3rd quarter was good. "However, we can do better. We should aim at giving our shareholders the kind of returns they can't get anywhere", he added.

Also speaking at the retreat, the Executive Director, Business Development, Mr. Sammy Olaniyi, said that despite the global economic meltdown, the company's performance would improve tremendously.

According to him, "our emphasis on professionalism would give us a competitive edge in 2009". He disclosed that the company's subsidiary in Ghana would start contributing to the group's bottom line from 2009."We will also actualize our plan to establish subsidiaries in Gambia and Sao Tome