Coronation Insurance Plc is flying high on a twin engine designed for improved returns on investment for shareholders and prompt settlement of claims, both has earned the endorsement of shareholders.
These formed the major highlight at the 62nd annual general meeting in Lagos to unveil the performance of the company’s financial year ended 31st December, 2020.
The board chairman Mr Mutiu Sunmonu who assured shareholders at the meeting in Lagos, said that the ongoing transformation in the company since the last few years has already paved way for further growth and turning over the benefits to the shareholders.
Sunmonu comments, “One thing that is very very common to all the shareholders who raised questions is about dividend pay, protection of the minority shareholders. I think the two things that are also salient is making sure that at the end of the day, existing shareholders derived maximum mileage for their investment in one form or the other.
“And if you look at what we are doing at Coronation Insurance in the two years and you observed how we have moved up in terms of ranking, am sure that will give all our shareholders confidence that the trajectory is right and end goal is very clear in our mind . We must make sure that there is maximum value to our shareholders. I can assure you that we have our eyes on the board on that. I truly believe that we will not let you down”, he said.
Also speaking , the managing director at Coronation Insurance, Mr Olamide Olajolo, while still responding to questions from shareholders assured that the firm’s partnership with Access Bank was poised to enhance growth of the firm. “Regarding our relationship with Access Bank, our partnership with Access Bank is very strong and is going. We are leveraging on its customers and developed digital channels to access all their customers. Am very confident that in the coming months we will start seeing results of these efforts,” he reiterated.
Shareholders at the meeting were unanimous as they welcomed the new managing director, Olajolo, who replaced Mrs. Adeyinka Adebayo. She was also commended by the shareholders for outstanding service. The shareholders: the National Coordinator Emeritus, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, the National Chairman, Progressive Shareholders Association of Nigeria ( PSAN) Mr Boniface Okezie, Mrs. Bisi Bakare of Pragmatic Shareholders Association of Nigeria and the Chairman of Ibadan Zone Shareholders Association, Mr Eric Akinduro also urged the new helmsman to work hard to ensure dividend pay out to shareholders and improved financial performance at the end of the financial year.