Universal Insurance settles N300million claims

Universal Insurance Plc paid over N300 million claims in the past three years, the Managing Director, Ben Ujoatuonu has said.

He made this known when the firm hosted insurance brokers in Lagos.

He said the firm has been consistent in paying claims and would continue to meet its claims responsibilities.

He also said the firm has been transformed and is set to be amongst top ten insurance firms in the country.

He said: “Part of the transformation going on in the firm is leveraging on electronic platforms to deepen its operations. The firm would soon engage more hands to drive its operations, even as plans are in top gear to open more branches.

“The firm has paid over N300 million claims in the past three years and has continued to make profits within the same period. We intend to further boost insurance penetration by ensuring that appropriate insurance products are made available to meet the needs of the insuring public.”

He lauded brokers’ support to the firm and pledged to enhance the relationship.

He called on the public to embrace insurance especially now that the economy is faced with challenges.

 

Source: Nation Newspaper