FBN Insurance Limited, a fully owned subsidiary of Sanlam Emerging Markets (Pty) Limited has presented its 2020 Annual Report to shareholders at the company’s Annual General Meeting (AGM) held in Lagos recently. Speaking at the AGM, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, disclosed that despite the challenging operating environment in the country, the company closed the year with positive results and made prompt claims payment to customers. An analysis of the company’s report showed that the group recorded an improvement in net premium income at 8% year-on-year growth from ?39.2 billion to ?42.5 billion in 2020. Total assets of the group increased by 47% from ?116.0 billion to close at ?170.0 billion as at 31 December 2020. This growth was driven by the company’s investment strategy supported by the increase in premium written particularly from retail life and annuity. Insurance and investment contract...Read more

As part of her drive to motivate her retail sales force and in line with her corporate strategy, the Management of FBNInsurance Limited, recently rewarded her outstanding Financial Advisors, Sales Managers, Senior Sales Manager and Area Sales Managers during her 2020 MD/CEO EMBER Award and The Retail Annual Competition (TRAC) Award held in Lagos. Speaking on the awards at the ceremony, the Executive Director, Retail Business Distribution, FBNInsurance Limited, Mr. Odinakachi Umekwe, commended the efforts of the retail team for the outstanding performances they put forward despite the pandemic. According to him, “The retail team is the company’s potent sales force. This team of over 2000 vibrant men and women all over Nigeria has sold insurance under the most challenging environment to ensure the company stays ahead in the retail space despite the limitations imposed by COVID-19. This award ceremony is to adequately reward the top Financial Advisors...Read more

FBNInsurance Limited has continued to maintain its position as irrefutable leader in the life insurance segment in the nation’s insurance sector as it paid out N11.4 billion claims to its clients as of the end of the third quarter of 2021. According to the data made available by the insurer, the sum of N11.4 billion was paid out between January and September 2021, which represents a 39% increase when compared to N8.2 billion paid in the same period in 2020. Further breakdown showed that Individual Life insurance had the highest figure totalling N5.3 billion, while Annuity accounted for N3.5 billion. Other figures released were N1.9 billion for Group Life insurance, and N687 million for Credit Life insurance. Making this disclosure in Lagos, the Managing Director/Chief Executive Officer of FBN Insurance Limited, Mr. Val Ojumah, stated that in a bid to protect the interest of both corporate and individual clients, the company has built a solid founda...Read more

As part of its Corporate Responsibility and Sustainability initiative, the foremost insurance company, FBNInsurance Limited, recently donated various items to Homes and Hospice in Lagos and Port Harcourt.   The company visited children at the Heritage Homes Orphanage (Lagos) and Rhema Orphanage Home (Port Harcourt). Items such as food, beverages, toiletries, clothes as well as cash were donated to the children of the orphanage homes.   In the same vein, the company made a similar donation to the Down Syndrome Foundation Nigeria, Lagos. Most of the items donated to the Homes and Hospice were largely raised through the company’s annual Staff Gift Drive, an in-house initiative that encourages members of staff of the company to donate various items for a common cause. The FBNInsurance Staff Gift Drive which incepted in 2015, is in its 6th year.   While appreciating the goodwill of the insurer, the Assistant General Mana...Read more

FBNInsurance, a leading Nigerian life insurer and a member of the SANLAM group,  partnered Collinson, a global leader in travel, international health insurance and assistance solutions to launch SmartHealth International, a market specific international health insurance product for critical medical conditions.    Addressing the health insurance gap in the Nigerian market between domestic and international health insurance products, FBNInsurance and Collinson have collaborated on the design of SmartHealth International, which will deliver a suite of new affordable health insurance products aimed at Nigerian employers desirous of protecting and giving peace of mind to its employees and their families.   NAICOM approved, SmartHealth International, is designed to complement local healthcare cover by providing cover for treatment abroad should an employee or family member develop a critical medical condition that cannot be ad...Read more

As one of the company’s strategy to enhance Customer-Management relationship, FBNInsurance Limited, recently hosted its Customers in a virtual Customer Forum. The Forum is in its sixth series. The Forum, which is aimed at keeping Customers abreast of topical issues within the company as well as addressing issues/questions/complaints they may have was well attended by the esteemed customers and Executive members of the company.  While welcoming the customers to the Forum, the Managing Director, FBNInsurance Limited, Mr. Val Ojumah reiterated the purpose of the Forum which he said is one of the company’s key strategic initiative to meet customers to get their feedback on the services of the company and work towards achieving excellent service delivery to the customer. In addition, he appreciated the customers for creating time to attend the Forum and assured them that all their requests would be treated promptly. ...Read more

The innovative driven insurance company, FBNInsurance Limited, recently held its second Brokers’ Forum to introduce its newly launched health insurance product, SmartHealth International, to its Brokers. The Forum, which was aimed at introducing the product to the Brokers, was well attended by over 30 top ranking Brokers as well as Executive members of FBNInsurance and the healthcare solution provider, Collinson, that partnered the insurer to develop the product. While speaking at the Forum, the Managing Director/Chief Executive Officer of FBNInsurance, Val Ojumah, stated that the company, had over the years, given thought to bridging the gap in the nation’s health sector due to the inherent high cost and limited access to medical facilities by the average Nigerian. In his words: “To this end, we decided to partner an outstanding healthcare provider, Collinson, with over 30 years’ experience, to develop a flexible health insurance solut...Read more

FBNInsurance has yet again emerged the Best Life Insurance Company in Nigeria, 2020 as announced by World Finance. A statement obtained on the organisers’ website about the awardees: “The winners of this year’s World Finance Insurance Awards are the organisations most able to adapt to the new environment and help forge the future of the industry in their respective countries. This year the World Finance Insurance Awards showcases the businesses that are best equipped to handle the environment and expectations that are accompanying our new COVID-normal world. This means much more than just financial discipline. All businesses need to be leaders, but insurance companies need to be moral touchstones given the critical role they will play in the months and years ahead.” Val Ojumah, the Managing Director/CEO, FBNInsurance, in his reaction to the news attributed the win to his company’s continuous deployment and utilization of tech...Read more