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Business Finance Info & Updates

Allianz pays N1.8b claims in Q1

Allianz Nigeria Insurance Plc has displayed resilience in its business strategy in spite of the impact of the Covid-19 pandemic in the economy, its Chief Operating Officer, Owolabi Salami has said.

Salami in Lagos said the company in the first quarter of 2020 recorded a claims of N1.8 billion, which is over a 130 per cent increase from N800 million, the amount paid out the same period in 2019.

According to him, the company also reported a Gross Written Premium (GWP) of N4.2 billion, a 47 per cent increase when compared to the N2.9 billion in GWP recorded during the same period in 2019.

He said: “The company has so far recorded an investment income of N301 million despite the fall in investment and treasury bill rates.

The success attained so far can be attributed to the tenacity and bravery of the people who work in the organisation.

The company is proud to see how fast his people adapted and rose to the challenge in these unprecedented times.

The company will remain unwavering to deliver on its promise of paying claims despite the present economic downturn.

“Earlier this year, the company launched a nationwide campaign to settle motor claims within 60 minutes, and to date scores of claims has been settled within the stipulated time.

It is clear that Allianz Nigeria Insurance Plc is at the forefront of revolutionising the industry, especially in the area of satisfying customers’ needs.’’

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