Stanbic IBTC Insurance Brokers begins operations

Stanbic IBTC Insurance Brokers is set to provide bespoke risk management and insurance services in Nigeria. The company announced that it has commenced full operations sequel to the granting of a licence by the National Insurance Commission (NAICOM) in January 2016, paving the way for the firm to offer the full spectrum of insurance brokerage services, a development that will help in deepening insurance penetration in Africa’s largest economy.

According to the broker, global best practice, including facilitatory prompt payment of claims, will underline the operations of Stanbic IBTC Insurance Brokers as the insurance brokerage firm enters the Nigerian market.

Part of the Stanbic IBTC Group, which has a clear focus on corporate and Investment Banking, Personal and Business Banking and Wealth Management, the new business broadens the scope of financial services offered by the group while widening its holding company structure.

Chief Executive of Stanbic IBTC Insurance Brokers, Anselem Igbo, said the business was established to fill perceived gaps in the industry, part of which includes helping clients effectively manage their risks and claims processes, thereby ensuring peace of mind through risk transfer, efficient insurance claims payment and exceptional quality of service.