Great Nigeria Insurance Recovers from Loss, Posts N1bn Profit

Great Nigeria Insurance Plc said it grew its gross premium by 16.9 percent from N7.1 billion in2020 to N8.3 in 2021.

The company also recovered from a loss position of N7.7 million to profit before task of N1billion.

Managing Director/CEO of the company, Mrs. Cecilia O. Osipitan attributed the positive performance to the commitment shown by every member of staff of the company.

She said the turnaround initiative coupled with the fact that the management team of the company was dedicated to ensuring that the shareholders got a good return on their investment helped to achieve the result.

She further reiterated the company’s unwavering commitment to creating value for both shareholders and stakeholders alike.

“The path to achieving growth and sustaining same is not without its challenges, but with the perseverance and doggedness of every member of staff, we were able to overcome and succeed as a team”, she said.

According to her, due to COVID-19 protocols, the company convened a hybrid 51 virtual Annual General Meeting of virtual and physical participants at the Westwood Hotel, Awolowo Road, Ikoyi, Lagos.

Some of the shareholders attested to the fact that the company has shown tenacity and resilience by preserving its legacy and remaining relevant in the Nigerian insurance industry.

Also speaking, the Company’s Spokesperson and Manager, Corporate Communications, Brand Management and Customer Service, Ms. Oyinkansola Sobande stated that the company, no doubt has every reason to appreciate all its shareholders for their unwavering faith in the Board and Management of the underwriting company and that the state of affairs would continually improve despite the challenges posed by the economic terrain.