Anchor Insurance Records 11% Growth in Profit
Okon Bassey in Uyo
Akwa Ibom State Government own Anchor Insurance Company Limited has recorded increased profit from N205 million in 2015 to N228 million in the year ended December 2016.
The Chairman, Board of Directors of the company, Dr. Elijah Akpan disclosed this in Uyo at the 27th annual general meeting (AGM).
Akpan attributed the 11 per cent growth in profit after tax to improved efficiency in operations of the company and introduction of unique and acceptable insurance products backed with cutting-edge innovative technology. The insurance company declared a dividend payment of 3.6 kobo per share for the 2016 insurance year, hinting that the shareholders approved the dividend payment of 3.6kobo per share following the impressive performance of the company which is 12 per cent growth in dividend pay-out. He added that the firm investment and other incomes grew by 16 per cent from N182million in 2015 to N212million in 2016, as a result of shrew investment operations and decisions.
He said: “The company incurred claims of over N371million while the underwriting result at the end of the year amounted to N1.013billion compared to approximated N965million earned during the year ended December 2015 which amounted to 5.04 per cent in 2016”.v“The company total asset increased in 2016 by 6.5 per cent with an approximated total of 5.8billion compared to N5.4billion recorded in 2015 while its shareholders fund grew from N4.5 billion in 2015 to N4.7 billion in the year 2016 thus showing a 5.03 growth.”
Akpan noted that “it is heart-warming that despite the hash challenges in the global and domestic environments, the company recorded growth in some key indices in the year ended December 31, 2016.
The company, he said is implementing its plans to improve capital base through available instruments in the market with introduction of tailored-made insurance products, retail and micro insurance, property investment and Leasing. “The recent expansion in the board composition was taking with the strategic plan to expanding opportunities in the public sector insurance. We shall continue to invest in infrastructure, create an enabling environment for our staff with adequate motivation”, he declared.
a symptomatic air traveler whose sister had just died from the Ebola virus in doctors and nurses became infected with the
agency swung into action. No one believed that effective contact tracing could be undertaken in with many poor people living in crowded slums and a population that swelled and ebbed every day as people came to the city looking for work. Many envisioned an urban apocalypse.
leadership and the public sector response through effective coordination that was both immediate and aggressive.
Ebola treatment facilities. House-to-house information campaigns and messages on local ease public fears.
In what W.H.O described as a “spectacular suc detective work eventually linked all cases back to either direct or indirect contact with the air traveler from Liberia. Nigeria was declared free of the Ebola virus transmission on 20 October.
agencies to manage the Ebola crises was proof stance. Risk management frameworks provide the proactive solutions to manage potential health or other crises.
departments and agencies) must be agile and ready forces of resistance that make it hard to become agile without a crisis and to maintain that agility
and alienating other agencies more than they new partnerships. Without an imperative to act or to optimize for the interests of the “tribe” range of stakeholders to satisfy and scrutiny from the media further diminish the willingness
It appears that only crises situations cause people in the public service to stick out their and entrepreneurship and best-effort judgments are rewarded. Errors are no longer feared; they
- sions up to higher and higher levels of authority. and geographic lines.
and bureaucracy in the public sector is such that recommendations and approvals must be which tends to slow things down tremendously.
reports. Leaders develop solutions together and sport.
- ity that obtains. Public-sector organizations are thousands of pages of rules and policies.
to provide for greater transparency and faster decision making.
In contrast to risk management in the private - ate a great deal of political interest and some strong employment protection and high levels of sector risk management is also very different to being that it is not motivated by a decrease in demand for its services. Recent needs for public been triggered by the dire state of public finances and tightening budgets.
been on the receiving end of new legislation and - sector managers can help guide their agencies to take a more holistic approach to risk management by implementing an Enterprise Risk Management agencies achieve greater value from their risk management activities.