BusinessDay
NigeriaDecides2023

Unitrust Insurance pays N1.39b claims Q3

Unitrust Insurance Co. Ltd has demonstrated unwavering commitment and capacity to meet claims obligations as at when due, with a record N1.39 billion paythe out at the end of the third quarter of 2022.

Dele Oyetunji, chief marketing officer, of Unitrust Insurance said a significant number of customers appreciate the role the company plays in underwriting their insurance risks that accounted for the sum paid as claims during the third quarter.

“Unitrust Insurance paid N1, 390,870,779.56 as claims from 1st January to 30th September 2022.”

He further said ”Claims payment is a very important responsibility because our major focus is to ensure that our customers enjoy the benefits of taking all forms of insurance with Unitrust Insurance Co. Ltd.

John Ijerheime, managing director, said “We also understand the importance that the National Insurance Commission (NAICOM), places in claims payment.”

In third quarter 2021, we paid a total of N 1,094,964,131.42 but as of September Q3 2022,we have already paid N1,390,870,779.56 .

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According to him, the Company entered into strategic partnerships with various organizations to broaden its visibility and accessibility and we are developing in-house platforms to ensure a seamless end-to -end customer journey, he stated.

Unitrust Insurance Co. Ltd had earlier secured the approval of the National Insurance Commission (NAICOM) to underwrite agricultural risks.

Among the products approved for Unitrust Insurance are Multi -Perils, Livestock Insurance, Poultry, fishery and Fish Farm, Area Yield Index agricultural insurance with the approval, Unitrust Insurance Co. Ltd is now well-positioned to broaden its product offerings to consumers in line with the federal government’s objective to deepen insurance penetration.

Unitrust was founded in 1981 and commenced operation in 1986, with branches spread across Nigeria, carrying out contracts of general Insurance business.