• Sunday, February 25, 2024
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BusinessDay

Staco Insurance sees competitive performance in 2024

14 listed insurers grow premium by 33% in FY’23

Underwriting firm, Staco Insurance Plc says its successful navigation of turbulent 2023 with strengthened capacity has positioned it for improved growth and competition in 2024.

Staco Insurance Plc has said it is set to occupy the top spot in the insurance sector in the coming year, having successfully tested its capabilities and capacity industry-wise; customer-wise and regulatory-wise in 2023 and scored three over three.

Wale Banmore, managing director/CEO, said this in a New Year Message, adding that the company has had a turbulent voyage to stand tall today.

He submitted that there were several pitfalls in the course of the firm’s daily business, but it met grace and favour at different points of contact on the daily journey of pursuing production and collections while selling its services.

Banmore applauded the company’s board of directors, who went beyond their normal functions through physical interventions and constructive advice for the firm to navigate some difficult spots in the recovery path.

He also lauded the contributions of the management and staff, imploring them to build on the successes recorded in 2023, whilst taking the firm to lofty heights in 2024.