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    Monday, September 12, 2016

    IGI Pays N1.2bn Claims In Eight Months

    Industrial and General Insurance Plc said it paid claims amounting to N1.2bn between January and August this year to its policyholders.
    A statement obtained from the firm on Sunday said this brought the total of claims it had paid since 2015 to N3bn.
    The firm stated that from January to August this year, claims paid on individual life insurance totalled N746.42m; while N157.28m was paid on group life.
    It added that N273.59m was paid on general business, consisting of N107.27m (oil and gas insurance); N41.02m (engineering) and N56.53m on motor insurance.
    According to the statement, the payments were in line with the company’s resolve to settle all outstanding claims and obligations due to customers as quickly as possible.
    “Our ongoing corporate transformation/restructuring makes prompt payment of claims inviolable. It is for this reason that, despite the current economic constraints, IGI will continue to pursue policies that gladden customers and strengthen public trust in the company,” the statement said.

    The Managing Director, Mr. Rotimi Fashola, reiterated the IGI’s determination to achieve its set goals.
    He said, “The result so far is encouraging. We will continue to put the customer first in our bid to improve our market share.”
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