Sanlam General Insurance pays N3.1bn claims

Sanlam General Insurance Nigeria Ltd. posted a Gross Premium Written (GPW) of N11.4 billion and paid N3.1 billion as claims in 2022.

The Managing Director/Chief Executive Officer of the company, Mr Bode Opadokun, disclosed this in a statement in Lagos.

Opadokun said that the N11.4 billion GPW reflected the insurer’s ability to provide high-quality insurance services to its clients, leading to continued financial growth.

“The company’s financial success in 2022 is a testament of its commitment to providing innovative solutions to meet the diverse needs of its clients by offering both personal and business insurance products.

“At Sanlam General, we take our business of risk management very seriously, and there is no gainsaying that the settlement of genuine claims is our primary obligation to our esteemed policyholders.

“Our customers trust us to be there for them; therefore, we will stop at nothing to keep our promises of exceptional customer service and prompt service delivery,” Opadokun said.

According to him, the feat marked another successful year for the company, which rebranded from FBN General Insurance Ltd. in September 2022.

The Managing Director said that the company’s financial performance had a ripple effect on the wider Nigerian economy by providing coverage for various risks, such as property damage, theft, liability and personal injury.

He said that Sanlam helped individuals and businesses to mitigate potential losses and protect their assets.

Opadokun said, “This, in turn, contributes to the stability and growth of the Nigerian economy by reducing financial uncertainty and promoting business development.

“Sanlam General Insurance remains committed to providing the best possible insurance solutions for its clients and looks forward to continuing to build on its successful history and heritage.

“The company aims to strengthen its presence in Nigeria and beyond by developing new and innovative insurance products, leveraging advanced and state-of-the art technologies.

“The insurer will also build strategic partnerships to better serve its clients and contribute to the growth of the African continent,” he added.

Sanlam has presence in 33 countries in African as well as in India, Malaysia, United Kingdom and Australia.