FBNInsurance Limited said it paid N16.1bn claims to its customers in 2021 financial period.

A statement said while speaking on the company’s claims profile, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, said the company’s commitment to satisfying its clients was non-negotiable.

He said, “At FBNInsurance Limited, we are in the business of paying genuine claims that are due. Our strategy remains to provide financial security for our clients and as always, we will not rest on our oars to exceed our customers’ and stakeholders’ expectations, because to us, the customer is king.”

Ojumah added that “Customer satisfaction is the fulcrum of insurance business, and this inevitably builds customer loyalty, and we will not fail to ensure this. We believe once FBNInsurance is able to pay customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise, FBNInsurance will be able to meet its financial obligations to them.

The statement recalled that FBNInsurance paid N11.5bn claims in 2020 in spite of the challenging operating environment in the country, especially as the world continued to battle with the economic effect of the COVID-19 pandemic.

FBNInsurance Limited is a member of the Sanlam Group, a diversified, pan-African financial services group which has created value for stakeholders for more than 100 years, with business presence across 33 countries in Africa as well as in the USA, Europe, Malaysia, Australia, the UK and India, the statement said.