Firm wins insurance brand award

An underwriting firm, Universal Insurance Plc. has been bestowed the Insur­ance Brand of the Year Award 2022 at the Independent Newspaper Awards held in Lagos,

The insurer was announced winner of the coveted awards at the event, which was attended by stakeholders from the financial sector, insurance industry chief executives, captains of industries and senior financial executives.

Commenting on the award, the company’s Managing Director/Chief Executive Officer, Benedict Ujoatuonu, who expressed delight over the recognition said: “It shows the growth and expansion we are experiencing in the company, which has been consistent in last five years both in top line and bottom line.

On product development, he said, “You need products that are geared towards meeting specific aspirations and needs of the insuring public.

“We have products in the market that are mostly unique to our brand. We ensure that the insured public gets what they need, not what we think they need. These are part of the things that gave us an edge in taking up this award.

“As of today, Universal In­surance brand has an asset base over N11 billion, au­thorised and share capital of 16 billion units and N8 billion paid-up respectively. The underwriter is a general business organisation under­writing non-life risks. Fully computerised to drive excellence in service de­livery, customer-oriented and the firm is poised to be a giant in the risk-bearing business.”

In his opening remarks, Managing Director/Edi­tor-in-Chief, Independent Newspapers, Steve Omanufeme, noted that the company, which is one of the oldest insurance companies in the country was selected based on its exceptional performance in the insurance industry.

“Our board of editors embarked on a thor­ough and painstaking assess­ment exercise from which our distinguished awards recipi­ents were selected.

“So, today we celebrate you all for your ser­vices to Nigeria, our country in your chosen fields. Indeed, you all have a rich resume of achievement worthy of em­ulation.”

According to him, “these awards are just a token of our appre­ciation of your rich achieve­ments and we fervently pray they motivate you to a greater height.”