Economy
GUINEA Insurance Plc., on Thursday said it was repositioning to create value and optimum returns to its shareholders.
Mr Ademola Abidogun, Managing Director/Chief Executive Officer of the company, said this in a statement in Lagos.
Abidogun said that the firm was partnering with some brokers to strengthen its motor and marine insurance portal as well as to improve patronage of its business.
“Motor insurance business still remains the biggest of our products and we have partnered with some brokers on it.
“Our new business initiatives, motor and marine insurance portals and some businesses with government agencies would help us in getting value for our shareholders.
“We have a very robust board and work force that is made up of accountants, lawyers and other professionals with very strong business experience.
“The company has invested so much in staff training and acquisition of technology to help its business,” he said.
According to him, the firm is getting new businesses from brokers such as marine insurance, which is a growing segment, in spite of challenges in the areas of dollars and importation.
Abidogun noted that the underwriter’s oil and gas business portfolio had picked up because people were becoming more passionate about insurance.
He disclosed that the company was partnering with some international bodies to grow its agricultural insurance segment.
The CEO said the insurance company was in the process of getting approval from the National Insurance Commission, adding that the firm was not after opening lots of branches but sales outlets.
According to him, this is because it runs a central underwriting and accounting system.
“Although we have few branches in strategic areas, we also want to open more sales outlets to complement the existing branches and enhance our operations in selling most of our products and repositioning our brands,” he said. (NAN)
A.I
Tags: Guinea Insurance Mr Ademola Abidogun
