News
Unitrust Insurance Attributes Success to Strategic Focus on Sustainable Growth
Unitrust Insurance, has said that the secret of the company’s success has been on its strategic focus on sustainable growth, and consistent improvement on its delivery channels through digital adoption.
The company said emphasis has been on its e-insurance channels which harbor motor; marine and travel insurance.
John ijerheime, the company’s Managing Director, who disclosed this when his company played host to the umbrella body of insurance brokers, the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos said learning from the past, the firm has taken deliberate steps to improve risk management framework and corporate governance.
He expressed gratitude to the NCRIB for the opportunity given to the company to host the event, and pledged that Unitrust Insurance would continue to put in its best to ensure it delivers beyond expectations and also ensures a cordial mutual relationship with the brokers.
The company, at the event was endorsed and rated as a progressive underwriter worth doing business with by the NCRIB.
Dr Mrs.Bola Onigbogi, NCRIB President, who led other brokers to endorse the underwriting firm, noted that the company had distinguished itself by being brokers friendly and had over the years surpassed all expectations.
She congratulated the Management team for its success stories so far, while assuring them that the firm’s profile and account would soar after the meeting with brokers.
Mrs. Yetunde Adenuga, the company’s Executive Director, Technical, noted that the firm had over the years maintained a robust relationship with brokers, stressing that the relationship would be sustained to ensure growth of the insurance industry.
She submitted that since 1986 when the company started operations, it has continued to experience a steady growth, adding that the firm’s approved financials for 2021 revealed a total assets of N18.72 billion; shareholders’ fund of N14.31 billion and solvency margin of N8.92 billion.
According to her, the company’s total net claims paid in 2020 was N598.84 million, whilst N934.70 million has been paid from January 2021 till date.
She maintained that following federal government’s directives for recapitalisation of insurance companies in 2019, the firm has put arrangements in place to remain at the forefront.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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