Tuesday, 3 December 2013

Royal Exchange eyes microinsurance, takaful business


Mokwunye

Chuks Udo Okonta

Royal Exchange Plc has set in motion strategies to harness the opportunities provided by the new business lines in insurance practice – microinsurance and takaful, Inspen has learnt.

Its Group Managing Director Chike Mokwunye, in an interview said the firm would leverage the business lines to increase its share of the market.

He said: “We are looking at the businesses, for we believe that they would really help deepen insurance penetration. They are actually meant to address the un-served markets. If we have to increase our share of the market, we probably do not have any choice than to consider the businesses.”

He noted that the underwriting firm is poise to build a market-oriented organisation that would be responsive to the needs of the market and the ever-changing demands of customers.

 

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