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Universal Insurance Plc has rolled out the drums to celebrate its 60 years of business growth and contributions to the development of the Nigerian insurance industry and the economy in general. It is also using it to offer more quality services to customers and stakeholders. The underwriting firm which began operations in Enugu state, in the then Eastern Nigeria, has today fledged to become a major player in the nation’s insurance sector, producing many top insurance professionals now occupying positions of responsibility in the nation’s corporate world.
Moving on to the next decade, the operator is upbeat it will continue to be a force to be reckoned with while creating more value for its stakeholders.
Speaking on the company’s growth trajectory, the Managing Director/ CEO, Ben Ujoatuonu, said in the past 60 years, the firm has continued to strengthen and sustain the legacy of its founding fathers.
Ujoatuonu disclosed that Universal Insurance’s total assets stand at over N11 billion, while shareholders’ fund is put at N8 billion, as its 2020 financial result shows about 80 per cent increase in revenue.
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He also revealed that the firm has applied for the approval of a Microinsurance license from the National Insurance Commission (NAICOM), which it believes will help to deepen insurance penetration and revenue adding that, the company has received approval from NAICOM for eight innovative products.
“For the past 60 years we have been consistent in keeping to our words through creating value and meeting the claims of our teeming customers. I assure you that we will continue and not rest in our plans in satisfying our numerous customers.
‘The company’s human capital is a mixture of the experience of the old and vigour of the young. Presently, we have developed a very vibrant agency retail unit with a very active agency network across the nation.
