NCRIB To Welcome New President Oct. 21 As Unitrust Insurance Promises Value Addition.

…Unitrust Insurance Records N3.98bn Premium In 2020, Settles N934.7m Claims In 8months

By LOVETH AZODO, Lagos

The Nigerian Council of Registered Insurance Brokers (NCRIB) has announced that the council will be welcoming Barr. Rotimi Edu, mni. as its 21st president in less than two months.

This is just as the MD/CEO Unitrust Insurance, Mr John Ijerheime has assured the council of a workable relationship that aims at achieving value addition to Insurance Brokers and that the underwriting company has maintained a steady growth in its premium income over the past five years.

The Underwriting firm recorded N3.98bn premium income in 2020 as against N3.531bn in 2019, It settled N598,841,000.00 claims in 2020 and N934,704,527.87 from January till date.

The Outgoing President of the NCRIB, Dr Mrs Bola Onigbogi who made the disclosure Wednesday at the Council’s Members Evening Sponsored by Unitrust Insurance Co. Ltd said that the in-coming President is seriously warming up to take the Council to greater heights.

She said “The Secretariat and the Events Organizing Committee are now dotting the I’s and crossing the T’s to ensure a very successful outing. Interestingly, the event will climax with the Investiture of the 21st President of the Council in the person of our diligent and brilliant current Deputy President, Barr. Rotimi Edu, mni. I believe that the in-coming President is seriously warming up to take our Council to greater heights. Investiture of Barr Edu will be held at Marriott Hotel, Ikeja, Lagos ‪on Thursday October 21, 2021.”

She congratulated Mr. John ijerheime and his team from Unitrust Insurance Company for their success stories so far.

“I am assuring you that your profile and account would soar after this meeting. At the appropriate time, the Management team of Unitrust Insurance Company will be called upon to address this august gathering to apprise us with feats recorded by the company and areas where it needs our support as Brokers.” She said.

On the upcoming AIO conference, she encouraged the council members to take advantage of the proximity to attend the Conference

“It is no more news that the 47th Annual African Insurance Organisation Conference and General Assembly would be held in Lagos, Nigeria. The event is billed for ‪September 4 – 8, 2021‬. I like to encourage distinguished members to take advantage of the proximity to attend the Conference. The highlight of the event will be the installation of Mr. Tope Smart, immediate past chairman of Nigerian Insurers Association (NIA) as the President of the Organisation,” she said.

On Recapitalization, Unitrust Boss revealed that before the recapitalization exercise was put on hold, the company’s existing paid up share capital stood at 5,002,015,208, Retained earnings stood at N1,959,453,000 while shared premium stood at N872,369,000 with total of N6,533,837,200.

She said “We are assuring you that this exercise will be concluded very soon to N10Be for General business. Our shareholders other investors are committed to fully recapitalize the company.”
“Our strategic focus continues to lean in sustainable growth while improving on our delivery channels through digital adoption especially our E-insurance channels which harbors Motor, Marine and Travel Insurance”