19 March 2013

Nigeria: Niger Insurance Targets N16 Billion Premium Income

Lagos — Niger Insurance Plc is targeting N16 billion premium income at the end of 2013 financial year, its Managing Director, Niger Insurance Plc, Mr. Kola Adedeji, has said.

The company achieved a gross written premium of N7.8 billion in 2011 financial year. The 2012 results are not out just yet.

Mr. Adedeji is optimistic the company can achieve the N16billion premium income targeted this year because it "will be more responsive to the needs and yearnings of customers."

In the last one year, the managing director said that the firm embarked on transformation by x-raying the entire company right from the board of directors.

He added that it did a revaluation of its people, processes, to management staff, and all the pipeline staff in an attempt to make the company stronger.

The managing director also said the firm had reviewed its ICT processes, so the business model was now going to be more driven by ICT

He disclosed that recently, Niger Insurance got approval from the National Insurance Commission to roll out the annuity product.

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