NAICOM approves IGI’s 2014 accounts

The National Insurance Commission (NAICOM) has approved the 2014 accounts of Industrial and General Insurance Plc (IGI).

Rotimi Fashola, GMD, Industrial and General Insurance Plc

This was disclosed in a statement by the company’s management, which described NAICOM’s approval of the financial statements as a positive development and a huge boost to IGI’s restructuring effort.

“We are encouraged that the company is treading the right path. This shows that the company’s resolve to reposition for new challenges and be among the top-rated in the insurance industry is paying off. With the approval of the accounts, the company is set to soar higher,” the statement said.

The highlight of the 2014 accounts shows that IGI recorded a gross premium income of N6.7billion. According to the statement, “settlement of claims and other obligations was given priority during the year, as part of the overall strategy to clean up our books and satisfy our customers.

“IGI will continue to maintain the core values of good corporate governance and best practice. Our business philosophy in the years ahead will centre on delighting all our stakeholders, including policyholders and shareholders.”