Monday, May 20, 2024
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Great Nigeria Insurance reiterates commitment to growing annuity insurance business

…Debunks allegation of ceding the business to another company

Management of Great Nigeria Insurance Plc has reiterated its resolve to deepen the company’s business models with particular emphasis on erecting more creative ways of improving on its annuity insurance portfolio.

Great Nigeria Insurance Plc said that its annuity insurance account is one of the company’s cash cows to the exte3nt that it is not considering letting go the business of annuity insurance.

The explanation came against the backdrop of a malicious insinuation that Great Nigeria Insurance Plc was thinking of giving out its annuity insurance for acquisition by yet to be names insurance company.

The company complained that its attention was recently “drawn to a publication making the rounds that Great Nigeria Insurance Plc (GNI)’s Annuity Insurance business has been acquired by a rival insurance company. The said publication is to the effect that GNI Plc and Tangerine Africa Annuity businesses have been acquired by this particular Insurance Company.

“This development is a crude attempt by an unscrupulous competitor to de-market our brand and shrink  our share of the Annuity Insurance market. In the last five years, our Annuity Insurance portfolio has grown steadily by over 14,845% and our Annuitants have been enjoying value added services.

“In view of the foregoing there is no basis for transferring our Annuity business to another company in the industry. We want to state emphatically that GNI Plc has not and does not intend to sell-off its Annuity business Portfolio, neither does it intend to partner with any Insurance company or companies in the Annuity insurance market”.

The company stated that the explanation “therefore serves as a categorical disclaimer that our Company is not in any kind of partnership or merger discussion with any Insurance company regarding our Annuity Insurance Portfolio. Great Nigeria Insurance Plc is poised to continue in its well known tradition of delivering qualitative insurance services to its esteemed customers”.

Great Nigeria Insurance Plc therefore calls on all its intermediaries and clients to disregard any information regarding the transfer or acquisition of its Annuity Insurance Portfolio.

Great Nigeria Insurance Plc said that it is structured to be the insurance company of choice for keeping promises to stakeholders which mission is to giving peace of mind to clients by keeping promises.

To consistently live its business philosophy encapsulated in its values, the company informed that it have assembled a vibrant and purposeful management team made up of highly experienced and result-oriented Professionals who are fully poised and determined to contribute meaningfully towards the upliftment of insurance practice in the country.

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