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Sovereign Trust Insurance Plc has affirmed that its successful completion of the Rights Issue has strengthened the company’s capital base, positioning it for enhanced business expansion, increased underwriting capacity and improved value creation for shareholders, customers and stakeholders at large, hence, policyholders have nothing to fear.
While briefing newsmen, the Managing Director/Chief Executive, Mr. Lucas Durojaiye, noted that Sovereign Trust has reinforced its financial strength with robust claims settlement by paying N2.7b claims in the first half of 2026 across its various lines of business, underscoring its capacity to stand by customers when they need it most.
Durojaiye reiterated the company’s unwavering commitment to delivering on its promise to policyholders through the prompt settlement of genuine claims without delay, maintaining its reputation as a dependable insurer in Nigeria’s dynamic insurance industry.
He maintained that the sustained level of claims settlement is a proof of the Company’s strong operational discipline, sound underwriting practices and healthy financial position affirmed by the GCR international rating agency.
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This commitment comes on the heels of the successful conclusion of the Company’s Rights Issue, which attracted an impressive level of participation from existing shareholders. The strong response further demonstrates the confidence of investors in the Company’s strategic direction, corporate governance and long-term growth prospects.
“Prompt claims remain one of the strongest indicators of an insurer’s financial strength and reliability. Our promise to policyholders goes beyond selling insurance policies.
“We remain committed to honouring our obligations promptly and efficiently while continuing to build a stronger and more resilient organization for all our stakeholders.
“With a stronger financial foundation and a clear growth strategy, Sovereign Trust Insurance Plc remains focused on deepening customer trust, driving innovation and reinforcing its position as one of Nigeria’s leading non-life insurance companies” he added.
