Old 35/New 17, Adetokunbo Ademola Street,
Sovereign Trust Insurance Plc
Sovereign Trust Insurance Plc commenced business in January 1995 with an authorized share capital of N30 million and a fully paid-up capital of N20 million following the acquisition and recapitalization of the then Grand Union Assurances Limited. Currently our authorized share capital is N3.5Billion divided into 7 billion units of 50kobo shares. We have a fully paid-up capital of over N2 Billion and shareholders fund of about N4 billion. The ownership of the company is made up of diverse shareholders from different walks of life. The company is licensed by the Federal Government to carry out business in all classes of Non-Life insurance and as special risks insurers.
We operate currently through a national network made up of our Head Office on Victoria Island and branches spread across various parts of the country.Sovereign Trust Insurance Plc became one of the insurance companies to be rated shortly after the recapitalization process by an international financial rating agency, Global Credit Rating in 2007 and 2008 respectively. The A- rating attests to the company's high claims paying ability in the industry.
The considerations for the rating amongst others were based on the company's good mix of business across the risk classes, high profile multi national oil and downstream clients, increased underwriting capacity strengthened by its new capital base and the geographical diversification benefits gained from the merger partners during the recapitalisation process.
For information contact
Tel: +234 1 461 5006-9. Fax: 461 5817, 461 7200.