Unitrust Insurance Grows Revenue By 78% To N8.206bn In Half Year 2024
Mr. Adedayo Arowojolu, MD/CEO, Unitrust Insurance
Unitrust Insurance Company Limited has released it’s half year 2024 financial report, recording significant growth in various segments of its operations.
Despite the harsh operating environment, the Company also paid a number of claims to its policyholders, underscoring the the company’s commitment to contractual obligations.
A statement by the Company today said the success underscores Unitrust’s commitment to providing unparalleled service and support to its valued policyholders.
“Unitrust Insurance reported a 78% increase in her year-on-year revenue, reaching a total of N 8,206,125,606.29 as against N 4,617,709,244.30 recorded for the same period in 2023.
“This growth reflects the company’s successful execution of its strategic initiatives, excellent service delivery, robust underwriting practices, and a diversified portfolio,” the statement added.
In demonstrating an unwavering commitment to customers, Unitrust Insurance paid N2,463,042,690.81 to policyholders for the first six months in 2024, as against N685,268,927.80paid in the same period in 2023. This milestone highlights unitrust dedication to providing timely and fair compensation to policyholders in their times of need.
On Stakeholders Engagement, the statement stated that Unitrust co-hosted the 2024 NCRIB CEOs Retreat in Uyo, Akwa Ibom State, earlier in June 2024.
The NCRIB Chief Executive Officers converged in Uyo for their annual retreat between June 13 and 15, 2024 to review the state of their sub-sector and brainstorm on the way forward. The retreat had as its theme: “Building Institutions that Survive their Promoters”.
This sponsorship, the statement said, focuses on fostering professional development and service excellence within the insurance brokerage sector.
Commenting on the half year report, in the statement, the Managing Director/Chief Executive Officer of the Company, Mr. Adedayo Arowojolu, expressed satisfaction on the Company’s performance.
He said “We are incredibly proud of our performance in HY 2024 and the record number of claims we have paid out to our policyholders. This achievement is a testament to the hard work and dedication of our entire team. We remain committed to providing the highest level of service and support to our customers, ensuring their peace of mind in times of need.”
Unitrust Insurance Company Limited is an insurance company established in 1981 and licensed in 1986 in Nigeria to operate as an insurer. Unitrust Insurance presently carries out all forms of general/non-life insurance transactions including Oil & Gas.
