Standard Alliance Insurance restructures to boost productivity

Chuks Udo Okonta

The Board of Standard Alliance Insurance Plc has initiated a process of restructuring and rightsizing as part of its corporate strategy for growth and efficiency in 2014.

 A statement by the company’s Corporate Communications Manager, Nelson Egboboh, said the restructuring exercise involved the creation of two major divisions within the company to be led by General Managers with over 20 years’ experience in the insurance industry and the reduction of its regional offices from five to four nationwide. 

Egboboh noted that the exercise also involved the rationalisation of branches nationwide for business optimization and resource management noted that “several staff were promoted and reshuffled to fill key positions in line with the new structure while others who could not be accommodated were properly compensated for their dedicated and invaluable service to the company.”

While noting that the initiatives were a part of the company's comprehensive strategic plan to align its operations, he explained that “Ms. Anietie Udoh, a General Manager who was before now heading the company’s South-South Regional business has been moved to the company’s head office in Lagos to lead the Financial Institutions/Multi-Clients and General Business Division while Ebose Austin Osegha who was Head, Public Sector, Energy and Telecoms has been appointed a General Manager to drive the Public Sector/Brokers’ Division.

He said: “The Board and Management expect that “these actions will help to make SA Insurance Plc a more competitive company, better positioned to drive innovation in new products and enable it to better utilise its resources in this challenging economic climate under which businesses have been operating towards delivering better results to our shareholders as well as provide much higher level of service to our clients.

 “The Company will continue to build on the success of this restructuring in the months to come, providing more organisational focus and enhancing excellent services to our clients.”