Merger: Former Crusader Insurance workers decry poor treatment

 

Chuks Udo Okonta

Former employees of Crusader Insurance Plc who were absolved  by the new Custodian and Allied Insurance Plc, which emerged from the just concluded merger, are unhappy with the treatment being meted on them Inspen has learnt.

Some of the workers, who expressed their misgivings, said their fate is hanging as the new firm is planning to carry out another rounds of disengagement of staff, they added that the planned disengagement would be the third, since the inception of the merger which was concluded last month.

They complained of their welfare package, noting that the severance package given to the first batch of disengaged employees before the merger was consummated was far higher than what was given to those disengaged in the new firm.

The workers also complained of the wide gap between what their former firm contributed as pension and what is now operational. They also expressed misgivings over their new leave plans and other benefits which they were entitled to which they no longer enjoy.

The Brand and Communications Manager of Custodian, Chukwudum Ofomata, said the merger has resulted to integration of skills, Information Technology (IT) and back office processes that will be to the advantage of the customers of the company.
He said: “Our merger has created invaluable integration of skills, information technology and back office processes. Now customers can take advantage of our increased spread, improved operational efficiencies and expanded product portfolio.

“The merger between Custodian & Allied Insurance Plc and Crusader (Nigeria) Plc leverages on 79 combined years of insurance and financial services experience.”

He stated that Custodian's strengths were its stronger balance sheet, financial capacity, improved operational efficiencies and an expanded product portfolio.

The firm has greatly expanded its scope of services with the merger with Crusader, he added.
Custodian is a wholly owned Nigerian company which seeks to develop, package and deliver innovative insurance products that best satisfy customer needs.  It operates a highly profitable, efficient, resourceful and ethical organisation that could survive well into the future and be a valuable asset to its shareholders.

Custodian’s board of directors comprises individuals with proven track records in their various fields of endeavour who bring several years of experience to bear upon the activities of the company.