In its determination to install confidence in the minds of its shareholders and other stakeholders, Equity Assurance has rolled out strategies for the post-consolidation period.
The magazine gathered that the strategies which emerged from the merger between Equity Indemnity Insurance and First Assurance would transform the company into a dynamic world-class organization through critical development of human capital, efficient service delivery and development of cut-edge information and communication technology.
Aside from these, according to Dolapo Balogun, managing director, Equity Assurance, the company is set to give food returns to its teeming shareholders. He disclosed further that in consonance with these strategies, the management has been restructured into divisions with con current authority to speedily handle and resolve claims issues and the generation and growth of business in various divisions.
Under the new dispensation, the business development divisions are empowered to develop flexible products and open new branches that would strengthen and increase the company’s premium income portfolio.
Within the next few weeks, the company’s stock would be formally listed on the Nigerian Stock Exchange, NSE, following the approval received from the NSE last month.
Also, as part of its post-consolidation repositioning exercise, the company’s new corporate identity and manifestation has been effected and launch programs for the unveiling of the new logo and head office complex are being put in place.
Meanwhile, corporate analysts of claims paid by the company showed that from January to June, 2006, N112,656,022.46 was paid as claims while a total sum of N191,769,324.89 was paid in the corresponding period of 2007, representing an increase of 58.7 per cent over the 2006 figures.
