Sovereign Trust Insurance Plc has paid total claims of N1.906 billion as at the first half of the year ended June 30.
The Head, Corporate Communications and Investor Relations of the insurance company, Mr Segun Bankole, confirmed this in a statement on Thursday in Lagos.
Bankole said that the payment covered 1,455 claimants spread across various policies from the different branches of the insurance company across the country.
He said that fire policies got the highest figure of N931 million, motor insurance claims ranked second with a sum of N416 million, general accident raked a sum of N254 million.
Also, marine and aviation gulped N218 million, Engineering had the sum of N65 million, followed by oil and gas claims with N9.6 million and Energy with N584,000.
According to the spokesperson, the underwriting firm did not only pay the claims, but also made follow-up calls to ensure the customers were satisfied.
“The underwriting firm continues to maintain its standard of excellence.
“It has positioned itself to be accessible to all policyholders by operating from multiple locations in Lagos and other major cities in Nigeria.
“This has made it much easier for policyholders to submit claim complaints, receive verification of claim and receive reimbursement for their loss, ” he said.
According to him, claims payment is the true testament of strength and capacity for any reputable insurance company.
He appealed to Nigerians to imbibe the culture of insurance as it is the only business that can ensure the continuous creation and sustainability of wealth when the eventuality happens.
Meanwhile, the Managing Director/Chief Executive Officer (CEO) of the firm, Mr Olaotan Soyinka, emphasised the unwavering commitment of the insurer to satisfy its customers.
“We understand the importance of swift claims resolution and are proud to provide financial support when our customers need it the most.
“Especially in this trying period when a lot of insured see insurance as the last succour when the unplanned happens,” he said. (NAN)
