In The News

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Life Insurance
General Insurance

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

FBNInsurance clinches Global Award for the fourth time!

On January 15th, 2020, the World Finance Magazine announced the winners of its 2019 World Finance Global Insurance Award. The spotlighted insurance firms according to the magazine are transforming the global insurance sector, with their use of technology and their desire to have a relationship with their customers; one that would be long-lasting. FBNInsurance, once again claimed the World Finance Global Insurance Award as the Best Life Insurance Company in Nigeria. This 2019 win would make the fourth time that the company would be claiming this award as they were given the same award in 2014, 2016 and 2017. The Managing Director/CEO of FBNInsurance, Mr. Val Ojumah expressed his satisfaction at the win, attributing the accolade to the company’s continuous commitment to customer satisfaction, and investment in customer-centric technology, aimed at meeting their customers’ needs. “We are happy to have won this award yet again. We wil...Read more

FBNInsurance Grew N7.82bn Profit Before Tax, pays N9.92bn claims in 2019

The 2018 Most Profitable Life Insurance Company in Nigeria, FBNInsurance Limited, has presented its 2019 audited Annual Report to stakeholders 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, stated that the company closed the year with positive results and also made prompt claims payment to customers. Reviewing the year, Val Ojumah said “We grew Gross Premium Written (GPW) by 45% to N37.63bn in 2019 from N25.98bn in 2018; while Profit Before Tax (PBT) appreciated by 28% from N6.13bn in 2018 to N7.82bn in 2019.” The performance, he said, was driven by the company’s sustained growth and continuous penetration into the retail segment of the industry. “Over the same period, as a responsive and reliable insurer that keeps to its words, we promptly paid claims to our clients to the tune of N9.92bn which...Read more

FBNInsurance consolidates on its financial performance in 2018

FBNInsurance Limited, has released its financial report for the year ended 31 December 2018 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 44% from N4.26 billion in 2017 to N6.13 billion in 2018; while the gross premium written (GPW) grew from N19.6 billion in 2017 to N26.0 billion in 2018, accounting for a 33% increase. While commenting on the financial statement, Val Ojumah, Managing Director/Chief Executive Officer, FBNInsurance, attributed the performance of the company to their resilience in achieving the strategic aspiration of becoming the most profitable life insurance company in Nigeria. “The 2018 result has not only moved us several steps towards this goal, it has also raised the bar for our performance in 2019. Given our track record ...Read more

FBNInsurance pays N4.8bn claims in 2018, declares dividend

FBNInsurance Limited, one of the leading life insurance companies in Nigeria, has presented its annual report to shareholders at the company’s Annual General Meeting (AGM) which held in Lagos recently. Addressing the members of the press, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated that the company closed the year with positive results and also made prompt claims payments to customers despite the unpredictable economic situation in the country occasioned by preparation for the just concluded general election. Reviewing the year, Val Ojumah stated “we grew Gross Premium Written (GPW) by 33% to N26.0bn in 2018 from N19.6bn in 2017; while Profit Before Tax (PBT) appreciated by 44% from N4.2bn in 2017 to N6.13bn in 2018. The performance, he said, was driven by the company’s sustained growth and penetration into the retail segment of the industry. “Over the same period, as a responsive ...Read more


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