NICON Insurance Limited has settled more than N400 million outstanding claims to all clients in the country due under the defunct National Insurance Corporation and the new NICON Insurance Limited under the new management.

The Managing Director of the Company, Bayode Samuel, said “claims settlement is pivotal to the business of insurance and anything short of this is unethical.

That is why in our unwavering quest for alignment with operational and regulatory standards, we have settled and disbursed in excess of N400 Million naira to all our numerous clients across Nigeria on outstanding claims due under the defunct National Insurance Corporation and the new NICON Insurance Limited under my leadership”.

According to him, the new management of NICON Insurance is saddled with the responsibility to reposition the Company for optimum performance as part of the key performance indicators for the company was immediate settlement of all claims received from the period of acquisition till date.
“On that note, NICON has joined every other liquid player in the industry poised to clean their books as directed by the regulator, the National Insurance Commission under the amiable leadership of Alhaji Muhammed Kari”.

He further disclosed that NICON has been repositioned to take advantage of strategic opportunities untapped in the insurance industry via various alliance with different stakeholders in the Insurance and financial Industry by introducing insurance benefits to almost all sectors of the economy.

He therefore urged the insuring public to take advantage of the new development in NICON Insurance of today by insuring their general and life assurance businesses with NICON being the flagship and the biggest underwriting company in Nigeria by asset base in excess of N40 billion, coupled with over 42 branch network nationwide and six regional offices.