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Anchor Insurance Pays N540m Claims To Policyholders



Anchor Insurance Company Limited has paid N540.3 million claims to its policyholders who suffered insured risks during its 2017 financial year.

The managing director/CEO of the company, Mr. Ebose Augustine, while announcing the approval of the company’s 2017 financial account by the National Insurance Commission (NAICOM), noted that his company paid a total claim of N540.3 million to its affected genuine policyholders in 2017 as against the N268.2 million in 2016.

This, he stressed, demonstrates its strength to accommodate any volume of genuine claims reported.

In its 2017 account, Augustine said his company posted N2.22bn gross premium written as against N2.05bn written during the corresponding period of 2016, an indication of eight per cent growth over the earlier result.

The total assets of the company during the period, he said,  was N6.24 billion and shareholders’ fund was N5.07 billion with its solvency margin standing at N5.12 billion.

Augustine, had earlier, said the company’s financial statement was approved as submitted without any form of query from the regulatory body, noting that ‘this outcome was a fallout of the company’s culture of getting things right the first time.’

He explained that with the trend of results already being achieved by the company in the current year, the Management was hopeful of delivering a much better bottom line to the owners of the company at the end of the year.




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