Sanlam General Insurance Posts N11.4bn GWP, Pays N3.1bn Claims In 2022
Mr. Bode Opadokun, MD/CEO
Sanlam General Insurance Nigeria Limited, a Pan-African brand with rich history and heritage has posted a Gross Premium Written (GPW) of N11.4 billion and paid N3.1 billion claims in 2022. This is according to the company’s latest financial report.
This feat marks another successful year for Sanlam which rebranded from FBN General Insurance Limited in September 2022. Since the divestiture of FBN Holdings’ 65% stake in June 2020, Sanlam Nigeria is now fully owned by the Sanlam Group, South Africa.
According to a statement signed by the Manager, Marketing & Corporate Communications, Ajibola Liyide, for Sanlam General Insurance Nigeria Limited, the Managing Director/Chief Executive Officer of the Insurance company, Bode Opadokun, said: “The N11.4bn GPW reflects Sanlam General Insurance Nigeria Limited’s ability to provide high-quality insurance services to its clients, leading to continued financial growth.
“The company’s financial success in 2022 is a testament to its commitment to providing innovative solutions to meet the diverse needs of its clients, offering both personal and business insurance products.”
Mr. Opadokun restated the company’s commitment to satisfying its clients, come rain, come shine. “At Sanlam General Insurance, we take our business of risk management very seriously and there is no gainsaying that the settlement of genuine claims is our primary obligation to our esteemed policyholders.”
He reassured the customers of the firm’s ongoing commitment to keep their trust while upholding the company’s status as a top insurance brand in the market. “Our customers trust us to be there for them; therefore, we will stop at nothing to keep our promises of exceptional customer service and prompt service delivery. We are committed to exceeding all our stakeholders’ expectations at all times,” he assured.
Sanlam General Insurance Nigeria Limited’s financial performance has a ripple effect on the wider Nigerian economy. By providing coverage for various risks, such as property damage, theft, liability, and personal injury.
Sanlam helps individuals and businesses mitigate potential losses and protect their assets. This, in turn, contributes to the stability and growth of the Nigerian economy by reducing financial uncertainty and promoting business development.
Sanlam General Insurance Nigeria Limited remains committed to providing the best possible insurance solutions for its clients and looks forward to continuing to build on its successful history and heritage.
The company aims to strengthen its presence in Nigeria and beyond by developing new and innovative insurance products, leveraging advanced/ state -of- the art technologies, and building strategic partnerships to better serve its clients and contribute to the growth of the African continent.
Sanlam has grown to become Africa’s largest non-banking financial services group, with a strong presence in 33 countries on the African continent, and a niche presence in India, Malaysia, the United Kingdom, and Australia. The brand operates in eight out of the 10 largest economies in Africa, with over 154,000 employees globally, delivering superior value to customers, shareholders, and the broader society.
