Home Business Insurance World Unitrust Gets NAICOM Approval To Underwrite Agric Insurance
Insurance World

Unitrust Gets NAICOM Approval To Underwrite Agric Insurance

Share
Share

John Ijerheime,MD/CEO

BY NKECHI NAECHE-ESEZOBOR–Nigeria’s lead underwriter, Unitrust Insurance Company  Limited on Thursday secured  approval of the National Insurance Commission (NAICOM) to underwrite agricultural risks business.

According to statement signed by Swachet Iliyasu,  corporate communications department of the company, that the ‘No Objection’ will enable the organisation to support farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

She added that among the products approved for the insurer are Multi -Perils, Livestock Insurance, Poultry, fishery and Fish Farm, Area Yield Index agricultural insurance.

Speaking on the development, the Managing Director/Chief Executive Officer of the firm, John Ijerheime, noted that the agribusiness sector in Nigeria needs insurance to remain sustainable and achieve long-term growth.

According to him  stakeholders in the agricultural value chain must embrace insurance if they want to reduce risk by transferring the burden to insurers for effective risk management.

With the approval, Unitrust Insurance  is now well-positioned to broaden its product offerings to consumers in line with the federal government’s objective to deepen insurance penetration.

Unitrust was founded in 1981 and commenced operation in 1986, with branches spread across Nigeria, carrying out contracts of general Insurance business.

It specializes in Oil & Gas, Engineering, Motor, Marine & Aviation, Personal Accident & Travel Medical Assistant, Workmen Compensation/ Employers Liability, Public/products Liability, Bonds, Burglary, Goods-in-Transit, Fidelity Guarantee, Professional Indemnity and Directors/ Occupiers Liability.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

NAICOM, NDPC Sign MoU To Safeguard Data Of Policyholders

NKECHI NAECHE-ESEZOBOR-The National Insurance Commission, (NAICOM) and the Nigeria Data Protection Commission,...

NAICOM, CIIN Tell Insurance Firms Directors To Uphold GRC Principles For Industry Sustainability

BY NKECHI NAECHE- ESEZOBOR–The National Insurance Commission, (NAICOM), has urged directors in...

Non Settlement Of Claims Is A Ground For Cancellation Of License- NAICOM

BY NKECHI NAECHE- ESEZOBOR–The National Insurance Commission on Wednesday told insurance directors...

Onifade Calls For AI Innovation To Drive Insurance Growth At WAICA Conference In Accra

Niyi Onifade, Sector Head of Heirs Insurance Group, has called for the...