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Staco Insurance Assures Shareholders On Safety Of Investments



The new management of Staco Insurance Plc has assured all its shareholders that their investments are safe and intact despite the recent change in the leadership of the firm.

The company also promised the insuring public that it will continue to be a responsible and dependable corporate entity fully committed to protecting all stakeholders’ interests including meeting its obligations to all policyholders.

To this end, the new management team led by Mr. Bayo Fakorede, while assuring that Staco Insurance will continue to remain a reputable brand noted for efficient customer service delivery and professional underwriting capacity, added that, the principal objective of the change process is to put the customer first and deliver exceptional customer service at all times and across all touchpoints.

“STACO will continue to be a major player in the Nigerian insurance market by bringing to the table, a new customer experience and a robust IT infrastructure. In the insurance industry, we know that underwriting expertise and capacity are key. This is where STACO derives its strength as capacity building and manpower development will continue to receive maximum attention,” he said.

Thanking all stakeholders for their support to the company, he assured them that the insurer will continue to deliver value added services to them. To our investors, they should be fully assured that their investments are safe and fully protected as they will continue to derive maximum value from their investments in the company”, he stated.

He promised that the company will shore up its capital base in a bid to be a Tier 1 insurance company in the new reclassification exercise of the insurance industry. The company’s chairman, Prince Samuel Turoti noted that Staco is solvent and in advance talk with investors and other stakeholders with a view of bringing new capital into the business.

The board of STACO Insurance Plc had earlier dismissed its pioneer CEO, Mr. Sakiru Oyefeso, on ground of financial misappropriation, abuse of office and breach of corporate governance best practices.