Prudential Zenith Life Insurance records N50.2bn assets in 2022 FY

Prudential Zenith Life Insurance says it recorded N50.2 billion worth of total assets in 2022 financial year as against N48 billion posted in 2021.

The Managing Director of the company, Mr Chris Igumbor, made this known at the August edition of the Nigerian Council of Registered Insurance Brokers (NCRIB), held in Lagos.

He said the shareholders’ fund for the firm reached N13.1 billion in 2022.

Represented by Dr Ifeoma Oragwu, Head of Corporate Sales at Prudential Zenith Life, Igumbor also said the Gross Written Premium (GWP) amounted to N6.4 billion in the same period.

He said that this demonstrated the company’s efforts to strengthen its capital base and grow its business.

Igumbor expressed the underwriter’s desire for further partnership with the brokers.

The managing director also expressed appreciation to the brokers for their continued patronage of Prudential Zenith Life and urged them to consider renewing their partnership with the company.

He emphasised the company’s commitment to providing valuable insurance solutions.

He said this specifically highlighted the company’s focus on the school fee protection plan for students, parents, and the group life plan for teachers and school administrators.

In his address, NCRIB’s President, Mr Rotimi Edu, represented by his deputy, Mr Babatunde Oguntade, assured the management of the underwriting firm of its cooperation.

Edu, also Chairman, NCRIB Governing Council, stated that the insurer had sponsored the council’s event within the two years of his administration.

According to him, this shows that it has so much confidence in the brokers and as such deserves their patronage.

“I thank Prudential Zenith Life Insurance for hosting this event, and by so doing reaffirming itself as one of the most insurance broker’s friendly underwriter in Nigeria,” he said.

The president appreciated his colleagues, for their staunch support since the commencement of his tenure, two years ago, which would end in October.

Edu noted that with the support of the members, the council has been raised to an enviable height.

He said: “This administration would continue to adhere to the actualisation of the thrust of office tagged: ‘Broker Centrism’, without leaving a stone unturned until the very last day.

“This is because, I am persuaded beyond reasonable doubts that the herculean task of ensuring that the Nigerian insurance industry and broking profession becomes enviable, is realisable.

Edu congratulated all the newly appointed ministers by President Bola Tinubu and specifically Mr Gboyega Oyetola, who is a fellow of the council, for being appointed as the Minister of Marine and Blue Economy.

He expressed optimism that Oyetola would bring his administrative and leadership dexterity to bear on charting an enduring path for the new ministry.

According to him, with this appointment, there is hope in the horizon that the economic thrust of the Federal Government would be on stream.

Edu also thanked Mr Bayo Fasoranti, Secretary, Nigeria Red Cross, Ogun State Chapter and Mr Kehinde Suraju, Divisional Coordinator, Ado-Odo/Ota Division of Red Cross for taking the brokers through: ‘Essential First Aid Tips for Emergencies’.

He said the choice of the topic and the speakers were apt, because of the relevance of the topic to the business of risk management.

According to president, such rescue tips is important, as many Nigerians who died of cardiac arrest and similar health issues in our society could have been saved if we are all well informed.

Agency report