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FBNInsurance set to deepen insurance penetration, opens new offices

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By ABDUL OLALEKAN

FBNInsurance Limited said it was set to deepen insurance penetration in the country through its recently established four retail offices in Umuahia, Eket, Orlu and Abraka in the South-South and South-East parts of Nigeria.

A statement from the insurance firm and made available to Business 247 yesterday, noted that this move was to allow more Nigerians subscribe to insurance products and services, thus increasing insurance adoption.

It said the nation is blessed with huge population, but that the low insurance acceptance did not justify the 160 million lives living in the country, promising to use these new platforms to boost acceptance of insurance.

According to the firm, “Insurance penetration in Nigeria is still very low despite the rapid growth of the industry. For us at FBNInsurance, we are committed to availing every Nigerian of our unique products wherever they are. In our five-year existence, we have always leveraged on the expansive retail network of First Bank Nigeria. This strategy has worked for us and that is why we have opened FBNInsurance retail offices inside FirstBank branches on Uzuakoli Rd., Umuahia; Nkwere Rd., Orlu; Grace Bill Rd., Eket; and Police Station Rd., Abraka.

“Now, the good people of Umuahia, Orlu, Eket and Abraka can access qualitative FBNInsurance products and services right in their neighbourhood.”

Meanwhile, the Managing Director/CEO of FBNInsurance Limited, Mr. Val Ojumah, was, over the weekend, inducted as a Fellow of the Risk Managers Society of Nigeria (RIMSON).

Ojumah was inducted in recognition of his exemplary exploits in risk management and a staunch commitment to the advancement of risk awareness in Nigeria.

Reacting to the development, Ojumah thanked the executives of RIMSON for the honour and promised to do more to uplift the ideals of the society.

“As a consummate financial services professional, this is a call to a higher service for me. Risk Management remains key in the business of insurance and as one involved in the day-to-day running of a major player in Nigeria’s insurance industry, FBNInsurance Limited, I cannot emphasize this enough. I thank the Board and Executives of RIMSON for finding me worthy of this honour,” he said.

Ojumah is a resourceful management executive with over 30 years’ experience in Risk Management, Insurance, Broking, Consultancy and Training within the insurance industry, academics and research. He holds a first degree in Insurance from the University of Lagos and a M.Sc. (Business) from the University of Wisconsin-Madison. He is also an Associate member of the Chartered Insurance Institutes both in Nigeria and the UK. Ojumah has been the Managing Director of FBNInsurance Limited since inception.

Others conferred with the Society’s fellowship include; the Commissioner for Insurance, National Insurance Commission(NAICOM), Mohammmed Kari; Former President of RIMSON, MrsEfiom-Ekaha; and President of RIMSON, Jacob Adeosun.

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39 thoughts on “FBNInsurance set to deepen insurance penetration, opens new offices”

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