Tomorrow, August 13, 2021 is an exceptional good Friday for Unitrust Insurance Company Limited, its marking 35 years of frontline general business provider and thank God its Friday.
It was founded in 1981 and commenced business in 1986, and it is capped with Corporate Affairs Commission RC- 42899 and National Insurance Commission (NAICOM) licence to transact general business in all fronts.
Its Managing Director/Chief Executive Officer, Mr John Ijerheime, (pictured) while speaking on the 35 years anniversary, said the firm is a service-oriented company exceling in intimate relationship with its customers, with customer specific understanding of risk exposure inherent in their businesses and proffering solutions.
“Our approach is simple and does not premise itself on any assumption, we operate in line with the core business ideals and values thereby satisfying our numerous customers. Unitrust prides itself on operational excellence which can be directly attributed to our highly competent work force,” he said.
He said the company is driven by process digitalization and products innovation, and this is manifest in its business growth and he aligns this with the company’s performance in year 2020, the firm closed the year with a gross premium written (GPW) of N3.98 bn, representing a year-on-year growth rate of 13 per cent during the corresponding period of 2019. He said the firm’s profit after tax (PAT) for the year stood at N747.172 million. Also, the company’s underwriting profit improved significantly to N802.194 million from N 301.759 million reported in 2019. The claims paid for the year was N1.08bn.
He said the result was outstanding against the backdrop of the pandemic ravaged year, “Indeed, 2020 was a year that will be remembered for its unprecedented disruptions, which were primarily attributed to the COVID-19 pandemic and its multidimensional impacts on global economies. Yet, in the face of prevailing circumstances the Company delivered impressive results during the year.”
He noted that the company’s business growth model is driven by structural analysis of its strengths, weaknesses, opportunity, and Threats (SWOT) for responsive branding , irrespective of the challenging situations, stressing that the company had by the result, demonstrated its robust capacity and sustainable execution of its strategic growth plans.