In The News

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Life Insurance
General Insurance

FBNInsurance maintains strong Financial performance

Fast growing Life insurer, FBNInsurance, has released its financial report for the year ended 2017 as approved by the industry regulator, National Insurance Commission (NAICOM). Figures obtained from the published financial statements showed a general growth across various measurement indices. The company’s profit before tax (PBT) grew by 37% from N3.11 billion in 2016 to N4.26 billion in 2017; while the gross premium written (GPW) grew from N9.9 billion in 2016 to N19.6 billion in 2017, a massive 98% increase. While commenting on the financial statement, Val Ojumah, Managing Director/Chief Executive Officer, FBNInsurance, credited the strong performance to a combination of factors including continued penetration of the retail insurance space, strong cost optimisation culture, consistent and efficient service delivery across available touchpoint, exploitation of new service channels, disciplined risk management, and a well-motivated staff. “Our ove...Read more

FBNInsurance wins AfricaRe/AIO Insurance Company of the Year 2018

Fast growing Life Insurer, FBNInsurance, has been named the Insurance Company of the Year at the recently concluded 45th AfricaRe/African Insurance Organisation (AIO) conference in Accra, Ghana. Established in 1972, AIO seeks to promote inter-African co-operation in insurance and to develop a healthy insurance and reinsurance industry in Africa. Their annual awards recognize outstanding firms and individuals who have made remarkable contribution to the African insurance industry. While acknowledging the company’s rapid growth, the organisers referenced the average growth of 57.36% in premium income over the last three years, 58.6% of net profit and 43% of shareholders’ funds. Figures from the company’s recently released audited statement revealed the company recorded a 98% growth on her year-on-year premium and a 37% increase in her profit before tax over the full financial year. Commenting on the latest award, Managing Director/Chief Executi...Read more

FBNInsurance Group donates to Down Syndrome Foundation and Heritage Home

In line with their Corporate Responsibility and Sustainability initiatives, sister insurers, FBNInsurance and FBN General Insurance, recently donated various items to two care homes, the Down Syndrome Foundation and Heritage Homes. The companies donated various food items, toys and beverages to Heritage Homes; while they made a cash donation to the management of Down Syndrome Foundation. Most of the items donated were largely raised through the companies’ annual Staff Gift drive, an in-house scheme that encourages members of staff of both companies to donate various items to a common cause. At the presentation ceremonies, the Chief Human Resources Officer, FBNInsurance, Mr. Emeka Dibia, conveyed the insurers’ goodwill to both organizations while appreciating their efforts towards making the society better. He charged them not to relent on the good they are doing and also restated the commitment of the FBNInsurance Group to the cause of both the orp...Read more

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