Payment Of Outstanding Claims: STACO Appeals To Policyholders For More Time
L-R: Jimah Mohammed, Staco Branch Manager Abuja, Wale Banmore, Managing Director, Staco Insurance and Bola Onigbogi ,Past NCRIB President @ the End of Year activities of NCRIB Abuja Area Committee, sponsored by STACO
Staco Insurance Plc has pleaded for more time from its policyholders who have outstanding claims with the insurer saying it is back and stronger after its earlier operating challenges.
The Managing Director/CEO, Mr. Wale Banmore, made the appeal at the Awareness Walk organized by the Nigerian Council of Registered Insurance Brokers (NCRIB), Abuja chapter, to sell Insurance on the roads of Abuja, as well as the End of year Pool party, both sponsored by Staco Insurance,
According to him, “we all believe the outstanding issues, especially the claims and other obligations were not incurred in a day or a year, therefore we seek your assistance by giving us time to settle these obligations within a short time but support us to recover with good businesses, for STACO Insurance Plc to be back.”
Mr Banmore stated that the company has come back stronger after its earlier operating challenges, promising to offset all outstanding claims.
He noted that insurance brokers played an important role in insurance value chain, he addressed brokers at the event that, “we can’t stand here to enumerate the importance of Insurance brokers in our Industry but to only appeal to you all to listen to us, give us a little time whilst we continue to aggressively settle all legacy obligations but at the same time, support us with businesses for us to grow as we lived up to your expectations.”
Banmore said: “we are back to be there for our customers and we are back to be a profitable business entity committed to corporate Governance and Compliance with ethics of the business.”
He appreciated NCRIB, Abuja chapter, for the privilege given to the company to sponsor its two events, promising that, Staco Insurance will not disappoint all its shareholders, customers and relevant stakeholders in its bidi to consistently build a brand that will become the choice of every household.
STACO Insurance Plc emerged in July 1994 as a result of discreet acquisition and restructuring carried out on Alpha Insurance Plc.
It was incorporated in Nigeria with RC. No. 167274 on 10th October 1991 and subsequently licensed to transact all classes of Insurance business with Registration No. RI 135 and RI 135L on 1st October 1994. The company under the new name commenced General Insurance Business and Special Risks with registration No. RIC 038.
Owned by Nigerians who have distinguished themselves in their various business endeavours and manned by seasoned professionals who have proven integrity in the Nigerian Insurance Industry. The company’s capital base is in excess of six billion Naira. Our strength lies in our passion for high standards and prompt claims settlement.
