Unitrust Insurance Clocks 35, Pledges Operational Excellence
MD/CEO, Mr John Ijerheime
Unitrust Insurance Company Limited, one of the leading general insurers in Nigeria with a track record of great service, is 35 years today, pledging to remain committed to professionalism and operational excellence.
Founded in 1981 whilst commencing service in 1986, Unitrust is authorized by Corporate Affairs Commission RC- 42899 and National Insurance Commission (NAICOM) to effect and carry out general insurance business contracts under the following categorization.
Motor, Marine & Aviation, Personal Accident &Travel Medical Assistant, Workmen Compensation/ Employers Liability, Public/products Liability, Bonds, Burglary, Goods-in-Transit, Fidelity Guarantee, Professional Indemnity and Directors/ Occupiers Liability.
We are a service-oriented company desirous of an intimate relationship with our customers by understanding the risk exposure inherent in their businesses and proffering solutions.
Our approach is simple and does not Premise itself on any assumption, we operate in line with the core business ideals and values thereby satisfying our numerous customers. Unitrust prides itself on operational excellence which can be directly attributed to our highly competent workforce.
Our business is driven by process digitalization and products innovation, Unitrust Insurance Co Ltd offers the right impetus for your business growth.
On financial performance, Unitrust Insurance announced that it recorded N802.194 million Underwriting Profit in 2020.
The Company state this while presenting its 2020 annual report to shareholders at the company’s Annual General Meeting (AGM) which was recently held in Lagos.
The company’s report showed that the company closed the year with a Gross Premium Written (GPW) of N3.98 billion, representing a year-on-year growth rate of 13% during the corresponding period of 2019. Likewise, Profit After Tax for the year stood at N747.172 million, against recorded in 2019.In the same vein, the company’s underwriting profit improved significantly as the total of N802.194millionachieved from N 301.759 million was reported in the 2019 financial year. The claims paid for the year was N1.08 billion.
While speaking at the AGM, the Managing Director/Chief Executive Officer of the Company, Mr John Ijerheime, reiterated that against the backdrop of challenges that characterised the year, the company delivered an outstanding performance across key metrics.
He said: “Indeed, 2020 was a year that will be remembered for its unprecedented disruptions, which were primarily attributed to the COVID-19 pandemic and its multidimensional impacts on global economies. Yet, in the face of prevailing circumstances the Company delivered impressive results during the Year.
“Our business growth model is driven by structural analysis of our strengths, weaknesses, opportunity, and Threats (SWOT) for responsive bonding irrespective of the challenging situations. We have by this result, demonstrated our robust capacity and sustainable execution of our strategic growth plans.”
