• Thursday, April 18, 2024
businessday logo


International Energy Insurance repositions for growth

Motor Insurance: Fined for an insurance error, who’s responsible?

…unveils new office

International Energy Insurance (IEI) Plc, a Norrenberger company has commissioned its new office at FF Millenium, Ligali Ayorinde, Victoria Island, Lagos, as part of its growth plan for improved service delivery.

The underwriting firm celebrated a strategic step towards its growth ambitions with the official commissioning of the new office, which featured industry stakeholders and key partners that witness the pivotal moment.

The event also featured a ribbon cutting ceremony, guided tours of the new office space and provided a platform for engaging and networking with IEI’s leadership team.

Olasupo Sogelola, managing director in his welcome speech stated that the landmark event emphasises the company’s commitment to improving its service delivery and expanding its footprint within the industry.

He disclosed that the company is repositioning and is set to be among the top three insurance companies in the country.

He said: “Repositioned for Growth” becomes more than just a theme as we unveil our state-of-the-art office, designed to provide a conducive and collaborative work environment. The meticulously chosen location in Victoria Island reflects our dedication to maintaining accessibility and convenience for its clients, solidifying our position at the forefront of the insurance industry.

Cutting the ribbon at the ceremony, His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, Abisogun II, the Oniru of Iru Land congratulated the Board of Director and management of the company for their resilience to reposition and grow the bottom-line from a negative position to positive position.

He said this is happening despite the current economic conditions, urging Nigerians to be resilient ad believe that the economy will get better soon.

Bukar Goni Aji, chairman, Norrenberger Group, noted that the fortune of the company went down to the extent that the regulator, National Insurance Commission (NAICOM) had to step in to get an interim board to manage the affairs of the company.

Read also: Hospitality, insurance emerge top-performing sectors in customer service

Norrenberger stepped in and invested and everything became new again.

“It is a complete reverse. There are about 50 to 60 per cent new staff with new strategy. In less than a year, the company has been repositioned to serve Nigeria.

Tony Ede, group managing director of Norrenberger, on his part said he is excited to have invested in IEI Insurance, recalling how the NAICOM took over IEI which led Norrenberger investing and taking over the company.

“IEI is a company that the regulator put up for sale. We saw the great opportunities that exist in the space; we came in and took over the company. We have been providing both human and financial resources to keep the company going. Today, the company is doing great.

“The new office is a classic example of what the company has done. We have moved from our derelict office in Jide Oki Street to a gracious and beautiful office. We are committed to make IEI one of the most successful insurance companies in Nigeria. Going forward, we will continue to invest in the business, drive technology, among others. We will also get the best of the market in terms of human resources to run the company.