Re: FBNInsurance Bags 45thAfricaRe/AIO Insurance Company Of The Year

By LOVETH AZODO, Lagos

The award winning insurance company, FBNInsurance, has added to her bag of awards, the 45thAfricaRe/African Insurance Organisation (AIO) insurance company of the year 2018, held in Accra, Ghana

AIO is a credible organisation, established in 1972, with the primary mission to promote inter-African co-operation in insurance and to develop a healthy insurance and reinsurance industry in Africa.

AIO is known to recognize outstanding firms and individuals who have made remarkable contribution to the African insurance industry in her annual awards

Following the 2017 FBNInsurance impressive financial report, the organisers cited Figures from the company’s recently released audited statement which revealed that the company recorded a 98% growth on her year-on-year premium and a 37% increase in her profit before tax over the full financial year.

Over the past three years, FBNInsurance has recorded a rapid growth of 57.36% in premium income, 58.6% of net profit and 43% of shareholders’ funds

Speaking on the AIO award, Managing Director/Chief Executive Officer, FBNInsurance, Val Ojumah said, “The AIO Awards remains one of the most sought after on the African continent for many reasons. We are honoured to win the prestigious Insurance Company of the Year award as this strengthens our position as the fastest growing insurance company in Nigeria and a thriving business on the continent. It is also another confirmation that our corporate strategy works.”

Incorporated eight years ago, FBNInsurance has defied the odds to become one of the leading life insurers in Nigeria’s sceptical market. With a robust agency structure boasting over 2000 sales agents, the company has consistently delivered on its strategic objectives by offering responsive insurance products to the Nigerian market. The AfricaRe/AIO Insurance Company of the Year 2018 is the company’s third major award in the past one year.

Recall that the company had earlier this year won the Sanlam Emerging Market (SEM) Cup of Nations and the 2017 World Finance Best Life Insurance Company Award.