April 17, 2024
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Industrial And General Insurance Plc (IGI) has disbursed claims totalling N848.5 million to its policyholders, signalling another major stride in the company’s effort to restore growth and public confidence in the organisation.

According to a statement issued by the company’s Head, Corporate Communications, Steve Ilo, the amount represents the cumulative sum that was paid out to various categories of claimants between January and December 2021.

It explained that, within the period, claims paid on individual life insurance totalled N583.6 million, the sum of N80.5 million went for group life, while N184.4 million was paid on general business.

The company reassured customers of its commitment to meeting all obligations, stressing that its ongoing transformation strategy was yielding results. “With the requisite approval of the Board of Directors and the National Insurance Commission (NAICOM), we are restructuring our illiquid assets and taking other pragmatic steps to restore IGI for the benefit of all stakeholders.

“We are driving this transformation with dynamism and fortitude. There are challenges, but they are being tackled decisively with encouraging progress. We are therefore focused on the future with confidence and great expectations.”

Reaffirming IGI’s commitment to excellent service delivery and industry best practice, the statement said the company would remain a responsible insurer, delighting customers with its new corporate values of integrity, excellence and responsiveness.”

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