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| Talabi |
Chuks Udo
Okonta
Great
Nigeria Insurance Plc has unveiled its new board members following the
conclusion of the divestment process.
At the
Company’s 48th Annual General Meeting held in Lagos, the new Chairman, Tokunbo
Talabi, in his maiden address assured the shareholders of the ‘board commitment
to bringing to bear, their various wealth of experience to ensure optimum
performance by the organisation’.
While
thanking the previous board for the ‘good job done’, he emphasized that the
Corporate Governance policy will be strictly pursued. Talabi who is a business
mogul formally introduced the other board members at the occasion. They are; James Naiyeju, Mr. Bade Aluko, Arch Bishop
Felix Alaba Job, Mrs. Foluso Onabowale, Dapo Otunla, and Mrs. Cecilia Osipitan
the Managing Director/CEO. Also introduced are Rotimi Olukorede and Mrs.
Roselyne Ulaeto both as Executive Directors.
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| Osipitan |
Commenting
further on the Company at the occasion, Mrs. Osipitan who has been at the helms
of the Company since December, 2009 assured that ‘with the conclusion of the
divestment process, GNI Plc is now fully focused on the matter of growing its
bottomline, implementing the re-engineering initiatives and customer service
improvement programme’.
It will be
recalled that following the Central Bank of Nigeria’s [CBN] Directive for banks
with subsidiaries to either sell off their subsidiaries or adopt a holding
structure, Wema Bank Plc, the majority shareholder of the 54 year old Insurance
firm decided to sell her stake in the Company.
The
successful bidding process which started in 2011 led to the new ownership of
Great Nigeria Insurance Plc that was now unveiled at the impressive ceremony.
Great
Nigeria Insurance Plc according to report and as part of its effort to improve
on its turnaround time has only recently purchased a new software that will enable
GNI Plc achieve this objective and it is in the process of going live with the
new software.
As a
measure of the growth of the organization, the Company in its recently released
financial result witnessed a massive rise in the PAT with a 119% increase of
N903m in its 2012 financial results when compared to the N399m of 2011.
GNI Plc’s
gross premium as at 31st 2012 stood at N2, 881,13 Billion as against the
turnover of N2,403,889 billion of 2011, this shows a 16.5% comparative
increase.
Similarly,
the total assets experienced a marginal growth of 13.8 per cent at
N8.432billion as against the 2011 figure of N7.265billion. While, N833,12 million
was paid out as claims to its various customers.
In the
same vein, the retail products of the Company which are sold under its
eBusiness platform has also started growing; one of which is Fireproof to cover
against possible loss of properties through fire, another is Great Savers
Delight; which is a savings investment scheme, Motorflex is an improved version
of third party motor insurance policy and GNI Personal Accident Insurance
product is for injuries sustained in accidents.
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