Sunu Assurances Nig. Plc, a member of Sunu Group, says it will explore opportunities in the industry to be among 10 top insurance companies in Nigeria in the next five years.
This is even as the Board announced the appointment of Samuel Ogbodu as the Managing Director/Chief Executive of SUNU Assurance Nigeria Plc following the approval of the National Insurance Commission (NAICOM).
Similarly, NAICOM granted a provisional approval for the appointment of Mr. Adeleke Emmanuel Hassan, as Executive Director, Technical & Operations.
Speaking recently at a conference in Lagos, the company’s new Managing Director, Samuel Ogbodu, said it would take advantage of Nigeria’s population to boost its market share in the industry.
He said that the company would boost insurance penetration by exploring the retail market to bring insurance services to 180 million Nigerians in nooks and crannies of the country.
“We want to ensure that we get insurance services to 180 million people in Nigeria,” Ogbodu said.
He said Sunu Assurance located in the six geo-political zones would drive growth through technology and physical presence, adding that the low insurance patronage in the country was due to lack of awareness and lack of corporate governance exhibited by some companies in the past.
Ogbodu said that the National Insurance Commission was working hard to strengthen corporate governance in the sector, adding that the company would remain committed to prompt payment of claims, given that it had paid about one billion naira claims since its acquisition of Equity Assurance. He said the company would also ensure development of insurance business in Africa.
“We want to do business the way it should be done, to serve customers and stakeholders better. We are working hard to increase Nigeria’s contribution in the group as the biggest economy in Africa.