• Sunday, June 23, 2024
businessday logo

BusinessDay

Unitrust Insurance marks 35 years of successful business in Nigeria

Insurance-2

Underwriting firm, Unitrust Insurance Company Limited has marked 35 years of successfully delivering quality service to its teaming clientele in Nigeria and offshore despite the challenging business environment.

Founded in 1981 whilst commencing service in 1986, Unitrust Insurance is 35 today Friday 13th August, holding its head high and carrying out contracts of general Insurance business across sectors of the economy.

It specializes in Motor, Marine & Aviation, Personal Accident &Travel Medical Assistant, Workmen Compensation/ Employers Liability, Public/products Liability, Bonds, Burglary, Goods-in-Transit, Fidelity Guarantee, Professional Indemnity and Directors/ Occupiers Liability.

At its 2020 Annual General Meeting (AGM) held in Lagos, the company closed the year with a Gross Premium Written (GPW) of N3.98 billion, representing a year-on-year growth rate of 13 percent over the corresponding period of 2019. Likewise, Profit After Tax for the year stood at N747.172 Million, against the figure recorded in 2019. In the same vein, the company’s underwriting profit improved significantly as the total of N802.194 million achieved from N 301.759 million reported in the 2019 financial year. The claims paid for the year was N1.08 billion.

Read Also: Unitrust Insurance launches integrated marine portal to improve customer experience

Speaking at the AGM, John Ijerheime, managing director/CEO Unitrust Insurance reiterated that against the backdrop of challenges that characterised the year, the company delivered an outstanding performance across key metrics.

He said: “Indeed, 2020 was a year that will be remembered for its unprecedented disruptions, which were primarily attributed to the COVID-19 pandemic and its multidimensional impacts on global economies. Yet, in the face of prevailing circumstances the Company delivered impressive results during the Year.

Ijerheime further stated “Our business growth model is driven by structural analysis of our strengths, weaknesses, opportunity, and Threats (SWOT) for responsive bonding irrespective of the challenging situations. We have by this result, demonstrated our robust capacity and sustainable execution of our strategic growth plans.”

“We are a service-oriented company desirous of an intimate relationship with our customers by understanding the risk exposure inherent in their businesses and proffering solutions.”

Our approach is simple and does not Premise itself on any assumption, we operate in line with the core business ideals and values thereby satisfying our numerous customers. Unitrust prides itself on operational excellence which can be directly attributed to our highly competent work force.

Our business is driven by process digitalization and products innovation, Unitrust Insurance Co Ltd offers the right impetus for your business growth.