In The News

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Life Insurance
General Insurance

FBNInsurance settles N9.92bn claims in 2019

At FBNInsurance, prompt settlement of customer’s claims is key to the success of their business; this has also continually boost customers’ confidence and trust in the company. The 2018 Most Profitable Life Insurance Company in Nigeria, FBNInsurance Limited, paid the sum of N9.92bn claims in 2019 as against N4.31bn in 2018. According to the Managing Director/Chief Executive Officer of FBNInsurance, Mr. Val Ojumah, “As a responsive and reliable insurer that keeps its promises, we promptly paid claims to our clients to the tune of N9.92bn which is a 130% increase from N4.31bn paid in 2018. Our strategy remains providing financial security for our esteemed customers and as always, we will not fail to exceed our customers’ and stakeholders’ expectations.” Commenting on the company’s commitment to customers’ satisfaction at the 5th Customer Forum organised by the insurer in Uyo, a customer who...Read more

FBNInsurance: digital innovation can help build trust in the Nigerian insurance industry

Nigeria’s insurance market boasts huge potential, but it is difficult to unlock because of the lack of trust between customers and insurance providers. FBNInsurance believes technology is about to change this. With a young population and a rapidly growing middle class, Africa presents huge opportunities to insurers. But so far, this potential has been relatively untapped. In 2016, the whole continent of Africa represented only 1.5 percent of the global insurance market. The insurance penetration rate is particularly low in Nigeria. There are a number of reasons for this, but perhaps one of the most significant is a lack of trust in insurance providers. Many people in Nigeria still struggle to believe that their claims will be paid quickly, fairly and accurately. FBNInsurance believes the way to warm Nigerians to the concept of insurance is to build trust and enhance transparency through digital innovation. World Finance...Read more

FBNInsurance pays N4.4 billion Claims in 6 months

FBNInsurance Limited has displayed resilience in its business strategy despite the negative impact of the coronavirus pandemic on the Nigerian economy. The company recently paid the sum of N4.4 billion in claims to its customers in the first half of the year 2020. This represents a 26.7% increase year-on-year when compared to N3.4 billion paid during the same period in 2019. While briefing news men at the company’s Lagos head office, the Managing Director/Chief Executive Officer of FBNInsurance, Mr. Val Ojumah disclosed that prompt settlement of customers claims is one of the underpinning business successes of the insurer as it strives to continually boost customers’ confidence and trust during the 10 years of the company’s existence. According to Mr. Ojumah, “As a responsive and reliable insurer, we have -during this turbulent time- kept our promise to our customers by paying claims promptly. Our focus remains to provide fi...Read more

FBNHoldings Divestment Announcement

SEM – Sanlam acquires remaining stake in FBNInsurance


What is the best time to buy life insurance?

People often wonder what the best time to buy a life insurance plan is and end up putting it off but life insurance is a necessity to anyone. Think of life insurance as a safety net. As you go about your daily activities in life, you do not hope to use the net, but it is great to know that the net is there. If something happens to you, won’t you want the availability of a financial cushion for everyone you care about? One of the major reasons people buy life insurance is to create financial security for the future of their family. A lot of people say they do not buy life insurance because they did not think they needed it. We are here to tell you that you definitely need a life insurance plan; whether it is to provide for your final expenses or to provide money for your family after you are gone, you definitely need life insurance. Let’s talk about the best time to get Life insurance. Age Faced with other necessities like feeding, debt, car p...Read more

Posted In : Life Insurance

6 reasons why you must get your life insurance done before the end of 2019.

To many people, buying life insurance is something you do when you are older. But that is a myth and could not be farther from the truth! Regardless of your position in life, nobody knows what the future holds. Everyday, people pass away and the devastating consequences which this leaves on the family is enough strain to add the worry of the survival of those left behind. The case is made truer if the person who dies is the breadwinner, and has dependents in the form of children, spouse or siblings. Here are reasons why you need a life insurance policy. Look after those left behind A life insurance policy helps you to secure the future of those who would be left behind after your demise. Nobody prays to die, but with that occurrence, you do not want to let them down totally. From replacing lost income to payment of the children’s education, taking out a life insurance ensures that everyone gets the much-needed security to pull through the loss. ...Read more

Posted In : Life Insurance

8 Things You Should Know About Life Insurance

Life insurance is easily misunderstood yet; it is such an important part of personal finance. Not a few would rather avoid talking about having a life insurance especially since it brings up the topic of their own death. However, if you have the right information, it is something that your household would benefit from. In this article, we would go over the top 8 things you should know about life insurance If people depend on you, you need life insurance From spouses to dependent children, people who depend on you financially should not have to suffer financially if you were suddenly to be no more. The death of a loved one can cause a lot of expenses to be incurred. These expenses were unforeseen and money may not have been left out to take care of them. Also, after spending so much on the death of a loved one, they need to carry on with their lives, and they can hardly do this if nothing has been specially left for them. However, if you are much older ...Read more

Posted In : Life Insurance


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