Nigeria: IGI Acheived Great Things in 2008-Olowude
February 2, 2009 by Bunmi Awolusi
The Executive Vice Chairman of Industrial And General Insurance Plc, Mr. Remi Olowude, has described year 2008 as a year of accomplishments for the company.
He made the declaration recently at the company’s Group Staff Party
which took place at the Shell Nigeria Hall of Muson Centre in Lagos.
“2008 was our first full year as a public limited liability company
(Plc) and it was a year in which we accomplished very big things at IGI
Plc,” Olowude told a gathering of more than 600 staff and guests that
included customers, brokers, bankers and other corporate partners,
adding, “This is the reason we still remain strongly positioned as the
nation’s leading insurance company in terms of profitability, balance
sheet growth, products portfolio, brand visibility, workforce,
efficiency and corporate strength.”
He explained that the company recorded a number of landmarks outside the shores of Nigeria in the course of 2008, saying: “Our Africa Expansion
Programme gathered a lot of steam that has left our competitors gasping
for breath.”
According to him, IGI Plc consolidated its management of the National
Insurance Corporation, Uganda and made a strong corporate statement in
Rwanda with the acquisition of 35% shareholding in Societe Nouvelle
d’Assurance du Rwanda (SONARWA), the biggest insurance company in the country. He said that IGI’s presence in Ghana and The Gambia has also changed the face of insurance practice in the two countries.
He underscored the fact that IGI became Nigeria’s first insurance
company to own a bank with the launch of Global Trust Bank Ltd in
Uganda, which was licensed by the Bank of Uganda and commenced
commercial operation in November 2008.
Olowude described the licensing of IGI Pension Fund Managers Ltd by
PENCOM in 2008 as a welcome development, stressing: “This has once more reinforced the mission of our company’s leadership to provide the
highest standard of financial protection to our customers.”
“We are still expanding and assessing other acquisition opportunities in
the continent,” he said, adding, “Our primary goal in 2009 will be to
consolidate our leadership in every aspect of our businesses within and
outside Nigeria.”
Olowude enjoined staff to work harder and smarter and as a formidable
team, stressing that Management will create an enabling environment for
creativity and enhanced productivity.
