Founder and chairman of Zenith Bank Plc, Jim Ovia, has called for more regulatory and policy frameworks to help deepen insurance penetration and attract investors.
Ovia said this during Zenith Insurance’s 20th anniversary held in Lagos.
According to him, Nigeria cannot experience meaningful development or attract the needed investments with the current one per cent penetration.
He said there was an urgent need to revive the insurance sector through policy changes that would enable people to invest in the insurance sector.
He said: “My own belief is that there is so much to do in the insurance sector; there is so much we haven’t done.”
According to Ovia, Nigeria and Nigerians can recover some lost resources with better insurance penetration.
The occasion was also used to celebrate some members of staff for their dedication and excellent service.
Eleven of the staffers were recognised with long service awards and a cash reward of N10 million.
Two of the staffers were rewarded with the excellence awards, while another staff member won the marketing excellence award.
The company also celebrated its loyal customers for standing with the brand for the past two decades.
Chief Financial Officer, Zenith Insurance, Chioma Anukwu, said the company is looking forward to outstanding growth in the future in terms of revenue and profitability.
“We are also looking forward to innovative ideas and strategy, breaking new ground, and increasing our market share in the industry. We are also looking forward to a better Nigeria because if the country is good Businesses will thrive,” she said.
