BY NKECHI NAECHE=——Poised to increase its market share, compete favourably for growth and strengthen ties with industry stakeholders, top underwriter Prestige Assurance Plc has hosted stakeholders in the insurance industry.
The Company had been reputed for its broker-friendly disposition over the years and working in a close alliance with brokers and clients which is a situation that had assisted it in entrenching its reputation in the market. The occasion was graced by the Bosses of the big 5 Brokers, among others.
Speaking at the event, Managing Director, Dr Balla Swamy, highlighted the giant strides taken by the Company in meeting her client’s aspirations. He expressed his appreciation to all the brokers and customers for reposing confidence on Prestige which remains one of the reputable brands in providing timely service delivery and customized insurance products.
Most especially, he thanked the Parent, The New India Assurance Company Ltd and the Reinsurers for their support in settling over N1.5 billion claims settlement in 2018.
Dr Swamy seized the opportunity to introduce the new Chairman of the Board of Directors, Dr. Doyin Salami, a renowned Economist and a professor at the Lagos Business School with over 25 year experience of solid financial management, economic expertise and business development. Dr Salami presented a lecture on the 2019 Economic Outlook.
He thanked the Brokers for their unflinching support and patronage in the past, adding that the company desires to be the preferred insurance company in Nigeria and urged them to support the company by all possible means to have a more robust and mutually rewarding and beneficial relationship.
The evening was rounded-off with the official launch of a new product known as the Prestige Agricultural Insurance Products which has been earlier approved by our apex regulator, the National Insurance Commission (NAICOM). The thrust of the product is to address the yearning of the general public and farmers in particular for a tested insurer who would protect them against losses at affordable prices.
Speaking on the Company’s preparedness to underwrite agricultural insurance, the Prestige CEO, Dr. Balla Swamy stated that NAICOM’s approval is a testimonial to the Company’s capacity, competence and sincerity in supporting the growth of agriculture in Nigeria. He stated that the Company acting as burden bearer, intend to take the worries off the players in the agricultural sector and give them opportunity to make wealth.
He stated further that the disasters that befall the farmers anytime there is a natural calamity, have serious adverse effects on the financial position of the nation. Farmers who suffer losses from catastrophic events usually look up to the government for financial aid, which may or may not come as these aids run into several millions of Naira. As the frequency of losses is uncontrollable, such aids seriously erodes government’s programmes when granted. Thus, a well-operated agricultural insurance scheme reduces the responsibility of the government in this direction, he enthused.
With its 66 years’ experience and understanding of the Nigerian environment, Prestige Assurance Plc leverages on the financial support, high profile, strategic performance and outstanding brand reputation of its parent company, The New India Assurance Company, which is the largest insurance company in Asia.
