Sovereign Trust pushes for higher insurance penetration

Sovereign Trust Insurance has increased the tempo for the entrenchment of insurance stakeholders towards insurance penetration in Nigeria.

At the 2019 Sovereign Trust Insurance Golf Open Tournament held at the Ibadan Golf Club, the seventh in the series, the underwriting firm called for the acceptance of insurance by Nigerians.

Managing Director and Chief Executive Officer of the company, Mr. Olaotan Soyinka noted that the company was very ready to carry insurance risks in the country especially through its 18 offices located across all the regions of Nigeria.

In the course of the annual sponsorship of the tournament since 2012, Sovereign Trust Insurance played up the position of Edward Freeman who noted that due regard should be given to the interests of other stakeholders apart from shareholders that companies usually maximise profits for.

And it is this that Sovereign Trust did with its identification with golfers in the country as against the position of the economist, Milton Friedman that organisation’s only expectation is to serve their shareholders’ interests.

Captain of the Ibadan Golf Club, Mr. Olumide Oyediran who was represented by the Second Vice Captain, Col. Ade Sunmonu (Rtd) noted that the tournament continues to be one of the most important events in the golfing calendar in Nigeria with participants coming from across the country.