Veritas Kapital Assurance has set 2024 as the year to assemble and build the strong general insurance company that rivals the performance of other companies and sets landmarks that projects it as beacon to watch and follow.
The Managing Director/ CEO Dr. Adaobi Nwakuche while briefing the press at the head office in Lagos today said with strong performance of profit after tax of N4.9bn in H1 2024, a huge leap of 630% from N672.4 million in H1 of 2023 is a clear pointer of the formidable insurance platform that it has attained. Clutching along with this performance is its obligation to policyholders to settle claims; paid claims in H1 is N1.3bn.
Nwakuche said the strides of company in the last two years and especially the H1 figures sees them as the fastest growing insurance company in the industry. “We have moved the company from where it was to where it is. We are deliberate and focused on what we want to be. We are clear about where we are going to and where we want to be.”
Joined in the press briefing by the Executive Director Operations, Sunkanmi Adekeye, and the CFO, Mr Mojeed Somorin virtual from Abuja, Adaobi said the strategies deployed to transform the company is already paying out by the results following and the company is set to make the H2 2024 close with higher improvements. In the closing five months of the year she said Veritas Kapital Assurance would grow its market share, increase premium income and do much better in H2 than was done in H1.
Confidently, she said, “we want to grow our market share and be one of the top companies to reckon with in the market. She said the company is not only aiming to be a global player but wants to operate global standard in the local market.
Part of that strategy she explained is to be customer centric, deploy a business process with a turnaround time to suit all stakeholders. The company she emphasised, is not loosing sight of its human capacity development which drives the transformation processes and has been improving productivity by continuous training. Akin to this is the culture of providing service with a difference.
This formidable position she cleared, would enhance its retail platform which like all operations is driving by current state of the art technology for sustained better services and help propel it to be a market leader in various lines of businesses.
On the mark of ascendency, she said all the strategies already paving way for good results that will grow it to the platform of the top five in the market by the end of 2025.
Feature picture, from (L) Mr. Dodwin Agbonaye, Regional Head Lagos/South. Dr. Adaobi Nwakuche, MD/CEO and Mr. Sunkanmi Adekeye, Executive Director. Operations at the Lagos head office of Veritas Kapital Assurance.
