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Saham Unitrust Insurance Nigeria Limited has declared a change of name to Unitrust Insurance Company Limited.
A statement from the company disclosed this, adding this notification became necessary, having met all regulatory requirements.
Unitrust Insurance stated that all past correspondence, licences, documents and title issued under the former name remain valid.
The insurance firm was established and licensed in 1986 as Unitrust Insurance Company Limited, and has remained one of the major underwriters of non-life insurance services in Nigeria.
Its name was changed to Saham Unitrust Insurance Nigeria Limited after the investment of Saham Finances in the company, before its current change of name.
The company’ Managing Director, Mr. John Ijerheime, speaking on this development, restated the company’s passion for excellent service delivery to its customers.
Ijerheime assured that the company has set in plans to ensure that it meets the recapitalisation requirements of the regulatory body, the National Insurance Commission, before the deadline given to the industry to recapitalisation.
He stated that as part of its promise to honour all genuine claims, the company will continue to ensure prompt claims settlement to all customers.
He further guaranteed the public that the company would continue to deploy cutting-edge technology to provide the best services in the insurance industry.
Commenting on the firm’s financial performance, he said the group’s gross written premium (GWP) rose by 27 per cent to N3.168 billion at the end of December 2018 from N2.486 billion at the end of December 2017.
The profit before tax stood at N806.18 million at the end of 2018 from N818.04 million at the end of 2017, while its profit after tax rose to N759.96 million from N427.68 million.
