Harboursandport.com: Lagos - Sanlam General Insurance Nigeria Limited, a subsidiary of Sanlam Life Insurance Nigeria, has reported impressive financial results for 2023, with a Gross Premium Written of N16.1 billion and claims payouts totaling N3.9 billion. These figures represent a notable increase of 41% and 26%, respectively, from the previous year, showcasing the company’s growth and commitment to customer satisfaction.
Sanlam's profit before tax also surged by
134%, climbing from N1.8 billion in 2022 to N4.4 billion in 2023, while its
Total assets grew by 42%, increasing from N16.1 billion to N22.8 billion during
the period under review, underscoring the company’s strong financial position
and ability to meet its obligations.
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| Bode Opadokun, MD, Sanlam General |
Commenting, Bode Opadokun, Managing Director/CEO of Sanlam General Insurance, expressed his satisfaction with the company's financial performance, particularly the growth in profit before tax, shareholders' funds, and total assets.
Opadokun reaffirmed the company’s dedication
to excellence, noting that settling genuine claims remains the insurer's
highest priority. He said: "We are fully committed to earning and
maintaining our clients’ trust through exceptional service and prompt
delivery.”
"Our focus on delivering innovative,
customer-centric insurance solutions has been instrumental in achieving these
results. We are committed to providing unmatched value to our shareholders and
ensuring our customers receive top-tier financial protection."
With a robust portfolio of personal and
business insurance solutions, Sanlam continues to play a pivotal role in
reducing financial uncertainty and fostering economic growth across Nigeria.
The company’s ongoing success not only
empowers individuals and businesses but also contributes to the broader
stability and development of the Nigerian economy.
Sanlam is a pan-African brand with a rich
history and heritage founded in 1918 as a life insurance company. The brand has
grown to become Africa’s largest non-banking financial services group, with a
strong presence in 27 countries on the African continent, and a niche presence
in India, Malaysia, the United Kingdom and Australia. Indeed, Sanlam operates
in 8 out of the 10 largest economies in Africa, with over 154,000 employees
globally, delivering superior value to customers, shareholders and the broader
society.
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