Guinea Insurance PLC, one of the oldest insurance companies in Nigeria, has said that it is in partnership with one of the foremost international agencies to provide cover to farmers across Nigeria while also being repositioned to ensure value creation and optimum returns to its shareholders.
Mr. Ademola Abidogun, the Managing Director/Chief Executive Officer, made the disclosure at the Nigerian Association of Insurance and Pension Editors’ (NAIPE) first quarter 2023 CEOs Forum in Lagos recently.
Abidogun said: “We have a very robust board and work force that is made up of accountants, lawyers and other professionals with a very strong business experience working together to ensure we are where we are today.”
Abidogun said the company has invested so much in staff training and acquisition of technology, adding that currently “we have so many portals including the Third Party Portal which helps us in doing our Motor Business. Motor Business still remains the biggest of our products and we have partnership with a few brokers on that.”
According to him, “we are also getting new businesses from Brokers such as Marine Insurance for example. This segment is also growing despite the fact that there has been a lot of challenges in the areas of dollars and importation. Our oil and gas business portfolio too has also picked up because people are very passionate about insurance.”
On agric insurance, he said the Company is partnering with some international bodies to grow that segment, adding that the process of getting approval for Travel Insurance from NAICOM is ongoing.
Abidogun said the Company’s portal for its Motor and Marine insurance business is strengthening their partnership with some brokers which he said have started patronizing them.
His words: “The brokers partnership, our new business initiatives, our portal that we have for Motor and Marine insurances and some business with government agencies combined to ensure that we are getting value for our shareholders.”