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    Nigeria extends deadline to swap old currency notes by 10 days

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    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

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    Africa startups defy funding slump as debt financing fuels growth

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FBN Insurance settles N11.4 billion claims in 9 months

TAB by TAB
08/11/2021
in Finance
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FBN Insurance settles N11.4 billion claims in 9 months

FBN Insurance settles N11.4 billion claims in 9 months

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FBN Insurance settles N11.4 billion claims in 9 months

FBN Insurance Limited has paid out N11.4 billion (USD 738,37) claims to its clients as at end of the third quarter of 2021, which represents a 39 per cent increase when compared to N8.2 billion paid in the same period in 2020.

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FBN Insurance settles N11.4 billion claims in 9 months

Further breakdown showed that individual life insurance had the highest figure of N5.3 billion, while annuity accounted for N3.5 billion.

Other figures, according to the data released by the insurer, were N1.9 billion for group life insurance, and N687 million for credit life insurance.

The Managing Director/Chief Executive Officer of the firm, Mr. Val Ojumah, said that in a bid to protect the interest of both corporate and individual clients, FBN Insurance has built a solid foundation where clients can insure their trust by promptly paying their claims when the need arises.

He stated: “Ours is a business of trust and our strategy remains to provide financial security to our clients. We are keen to attain uncontested leadership status in the life insurance sub-sector as well as aggressively exceed our customers and shareholders’ expectations by paying their claims as and when due.”

FBN Insurance settles N11.4 billion claims in 9 months

 

 

Source: Vanguard
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