Backed up by strong information communication technology(ICT) that boosts its customer service delivery, ensuring it is prompt in delivery of its day-to-day routine services, Anchor Insurance Company Limited is an household name in the insurance industry that warehouses about 58 life and general insurance business operators.
It has a robust balance sheet and has always fulfill its genuine claims obligation, a mandate that is making the name of the insurer tick in private and government risk businesses.
Financial Performance
On its 2022 financial year, Anchor Insurance Company Limited posted a Gross Written Premium(GWP) of N13.15billion, indicating a 25.85% achievement over the N10.45billion result posted in 2021.
Profit Before Tax(PBT) went up by 37.82% from N1.02billion in 2021 to N1.41billion and Profit After Tax increased to N1.22billion from N867.55million in 2021, showing a 41.01% rise.
Shareholders’ Funds rose astronomically by 102.28% from N6.45billion recorded in 2021 to N13.05billion in 2022 while the company’s Total Assets grew to N18.56billion from N15.49billion in the corresponding year of comparison.
Claims Payment
Anchor Insurance Company Limited paid N1.42billion as claims to its genuinely affected policyholders and N997.42million in 2021.
Management Structure
The company is composed of accomplished turn-around professionals from different fields whose experiences have continued to ensure the organisation consistently puts its best foot forward.
The management team which is headed by a young intelligent professional in the Nigerian insurance business space comprises well-rounded and result-thirsting individuals from different lines whose passion for getting things right at first attempt has stood the company out as a phenomenon in the nation’s risk-bearing sector.
Awards
Having earlier been decorated with the Fastest Growing Insurance Company of the Year award, among others, Anchor Insurance Company Limited in 2020 added another belt to its ratings when it was honoured as the Insurance Company of the Year 2019 by Daily Independent Newspapers.
This was in recognition of the fresh breathe the Company has brought into people-friendly insurance products creation, risk management, claims administration, corporate governance matters and corporate social responsibility activities.
The company is on record as the first Insurance organisation in Africa to be on CNN and still steadily on the station with its commercial since 2018. These are developments which have engendered a positive conversation for the company and the nation’s insurance practice in general.
Products and Services
The underwriting firm boast of arrays of problem-solving insurance products which includes; Property Insurance, Engineering Insurance, Liability/Bonds Insurance, Marine Insurance! Group Personal Accident! Goods in Transit! Oil & Gas/Special Risks Insurance.
It equally does Retail/Personal Line Insurance, Motor Insurance, Aviation Insurance, Micro Insurance, Loss of Employment Insurance Scheme, Agricultural Insurance, Travel Insurance and Local Passengers’ Flight Welfare Scheme.
Anchor Insurance, a company with strong re-insurance and treaty arrangements and a member of international, regional and local insurance organisations such as African Insurance Organization (AIO), West African Insurance Association (WAICA) and Nigerian Insurers Association (NIA).
Biography
Anchor Insurance Company Limited was registered in June, 1989 and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit. The company, there on, commenced business in November of the same year.
It started off operations from its registered office in Uyo, Akwa Ibom State and for strategic business reasons, Anchor Insurance Company Limited joined its fellow underwriting outfits in Lagos in April, 2008.
Consequently, while the company has its Victoria Island Office in Lagos as the Corporate Head Office, the Uyo Office remains its registered office. At the moment, the company has expanded to not less than 14 branch office network located at strategic cities across the country.
Anchor Insurance Company Limited has constantly been showing strength in timely claims administration, superior customer experience delivery, product innovation and yearly bottom line performance.
