Underwriting giant, Niger Insurance Plc has commenced the process of restructuring its investment portfolio to enhance liquidity and increase investment income.
This is also to enhance compliance with regulatory requirements, amidst a challenging and competitive business environment.
Yusuf Abubakar, chairman of the company who disclosed this at the 47th Annual General Meeting of the company said “We have restructured our investment portfolio by reclassifying some investment properties to ‘non-current assets held for sale’.
Abubukar said as result, investment properties valued N6.39 billion has been earmarked for disposal in 2017.
“The mail objectives are to fully comply with regulations, engender liquidity and grow investment income thereby creating value for shareholders”.
He said the board remained focused as a responsible organ, providing leadership, enterprise integrity and judgment in directing the affairs of the company so as to achieve continuing prosperity of the company and act in the best interest, in a manner based on transparency, accountability and equity.
While stating the business environment will continue to present its challenges, he said the company will navigate the path to meet its medium-term business strategies and retain her ability to deliver value creation for shareholders.
“Our main focus shall be to enlarge our customer’s base and enrich them by providing more value added products in a faster and more efficient manner”.
Kola Adedeji, managing director/CEO of the company said the company has taken major steps to ensure it remained on the path of profitability even in the long term.
“We have reinforced a robust and integrated marketing approach embracing the appropriate mix coupled with element of segmentation, new value proposition and brand identity.
He said the staffs are being equipped with new and requisite skills to grow the company’s share of the market”.
Adedeji further noted that its product portfolio has undergone a comprehensive diagnostic review with the aim of giving value to its policy holders.
The CEO further assured that: “despite the uncertainties surrounding the socio and macro-economic environment, my strong confidence and reliability on our diversified product portfolio and robust asset base remained undeterred.”
Modestus Anaesoronye
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