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The insurance industry recapitalisation and  consolidation have no doubt brought responsiveness and enhanced customer value among insurance companies. With adequate capital within their disposal, it is easier now for companies to meet their obligations and this is gradually returning confidence among the insuring public. 
The overall effect of this, industry watchers say will be increased customer base and more income for the industry.  
Crusader General Insurance Company Limited, one of the leading underwriters in the market, has fulfilled its promise to customers, paying claims totaling N662.98 million during the current financial year 2008.
A breakdown of the claims figure showed that N80.5 million was for fire insurance portfolio, N120.7 million on accident insurance, N285 million on motor insurance and N1.93 million on oil and gas insurance. Marine insurance accounted for N160 million, while engineering insurance’s share was N11 million and N3 million was paid from the bond class of the business.
As part of efforts to keep itself abreast of developments within the local and international environments, Crusader General established a well equipped research and product development unit during the outgoing year.
Nimbe Oviosu, managing director of the company said its key policy trust was prompt payment of all genuine claims.
He stated that the underwriting firm had resolved to constantly develop and repackage its products to meet the changing needs of the insuring public. 
In line with the relevant provisions of the Insurance Act 2003, the company’s paid up capital which is in excess of N3 billion statutorily required, enables it to underwrite all classes insurance including general business, special risks like oil and gas, aviation and engineering.
The authorised share capital of the general insurance firm which is N4 billion is being managed by select crop professionals with proven track records in insurance underwriting.
Oviosu also informed that the company’s reinsurance arrangement is one of the most comprehensive in the country as it is being led by Munich Re and Swiss Re.
“We are technically equipped to handle risk survey and appraisal that is acceptable to international reinsurance market and there is adequate facility to underwrite dual currency policies subject to necessary approval from the National Insurance Commission (NAICOM),” he explained. 
Crusader General is an associate company of Crusader Insurance Plc. It came into being during the last consolidation exercise in the Nigerian insurance industry as the composite insurance companies underwriting both life and general business were required to split their operating licenses.