Leading underwriting firm in the country, Saham Unitrust Insurance Nigeria Limited, said its business operation increased with the record of N429.9million underwriting profit in 2016 financial year.
The company’s net claims expenses stood at N355.2million at the end of 2016, attesting to its ability to respond to claims emanating from its policyholders.
The Managing Director of the company, John Ijerheime, said despite the challenges in the operating environment, Saham Unitrust delivered an impressive underwriting result in the year under review.
He said, “we will continue to consolidate on our achievements and strategically grow market share in the industry through innovative policies, and prudent underwriting management”.
Ijerheime also said Saham Unitrust will continue to meet the needs of the insuring public by ensuring prompt claims settlement, which is its priority.
He also disclosed that the Group’s net asset grew by N337.6million to N7.56billion at the end of 2016 accounting period.