BY NKECHI NAECHE-ESEZOBOR—Nigerian Insurance Brokers have applauded the impactful underwriting of REX Insurance Limited since its rebranding from REGIC.
They made their position known when the company held an Executive breakfast Session with top Brokers today in Lagos.
Speaking at the event, President of Nigerian Council of Registered Insurance Brokers (NCRIB) Prince Babatunde Oguntade, passed a vote of confidence on Rex Insurance, stating that the company remains a pride of the insurance industry and would continue to enjoy huge patronage from insurance brokers.
According to him, Rex Insurance is where insurance works, adding that the company has the process; technology and the brokers.
He remarked that brokers would continue to associate with progressive underwriters, while the unprogressive firms would be pulled down.
He applauded the management and staff of Rex Insurance, stating that their contributions are not only to the company but the entire insurance industry.
Also, Deputy President of the NCRIB Mrs. Ekeoma Ezeibe, applauded the management for its great transformation and repositioning of the company within a short period.
Commenting on the performance of the Managing Director Rex Insurance Limited Mrs. Eberechukwu Nwachukwu, she said; “When she said she was going to Royal Exchange, I didn’t panic because I have followed her trajectory and I know she’s very hardworking, brilliant, analytical and a honorable person. I have also seen her trajectory from other institutions she had worked, so I wasn’t worried because I knew with all of these qualities going to Royal Exchange will not be a challenge for her.
She assured that the company would continue to enjoy full support from brokers, whilst encouraging the management to sustain the growth trajectory.
Explaining how it all started, Nwachukwu said “You’re the reason we do what we do,” she said. “We’ve invested heavily in technology and redefined our service delivery. This company is over 100 years old, it has been reborn, not just in name, but in vision, mission, and values.”
She highlighted investments in infrastructure, including relocation of the head office and key branches to modern, more accessible facilities amongst others as some of development that lead to where they are today.
“We did a brand audit and knew we had to change. The company, the environment, the people, everything had evolved. We decided to embrace the future boldly, with a new identity and a renewed purpose.”
She also noted that the company in 2024 paid huge claims of N15.47 billion, N1.79 billion and N1.65 billion to three customers respectively.
Moving forward, she said the company will focus on robust product development; expand corporate and retail portfolio; ESG initiative and strengthening its position in agric insurance market.
She pleaded with brokers to make Rex Insurance Limited their preferred insurance partner in business transactions.
