When FBNInsurance rolled out the drums on Friday, 4th December 2015, in celebration of her 5 years of operations, it was clear from all indications that the foremost insurance company had many reasons to celebrate.
The company currently ranked 5th in the Life Insurance business had a healthy premium income of N7.1bn, an operating profit of well over a billion naira while her return on equity was 22 percent in 2014. The company also acquired Oasis Insurance, which has since been re-christened FBNGeneral Insurance; all within her first five years in business.
Speaking at the event, the Managing Director, Mr. Val Ojumah, credited the company’s outstanding heritage (the company is owned by FBNHoldings (65%) and Sanlam Group SA (35%)) and a devoted clientele for the company’s successes. He however acknowledged the fact that the company was ‘work-in-progress’. “We are not there yet; but soon, with your continued patronage and support, we will get there,” he said.
The event was attended by captains of industry, financial services gurus and FBNInsurance policy holders.