Businessday :: News you can trust

As part of its contract, Intercontinental Wapic Insurance plc during the 2008 financial year paid claims totalling N1.6 billion to its customers that suffered different losses during the period.  
This, the company said, is in fulfillment of its promise to always settle all genuine claims promptly. 
A statement from the company disclosed that some claims that were settled included those of: Nigerian National Petroleum Corporation, Ninja Nigeria Limited Fiogret Limited and Aroma Chemicals Limited. 
Others are: Kelimok Company Limited, Viv Limited, Fidelity Bank and Labour City Transport, among others. 
Segun Balogun, managing director of the company insisted that the main priority of the company’s existence was to provide prompt claims settlement to its clients in order to give them the needed relief on time. 
He noted that its track record of always responding to claims promptly had built public confidence in the company and boosted its reputation in the industry.  
According to him, during the year, the company embarked on restructuring and standardisation of its structures and services, in order to provide enhanced services for its numerous clients. 
Intercontiinenal Wapic, Balogun further disclosed, has upgraded its services which had made it to be able to settle claims within the shortest possible time. 
He insisted that the insurance giant was committed to providing products that would meet the needs of all levels of the society. 
To achieve this aim, the insurance chieftain explained that the company was making its products available to more Nigerians through its Bancassurance services, by selling its products through the various Intercontinental Bank’s branches in the country.  
The company, he noted, had an enhance capital base which was higher than the statutory requirements, thus, making it able to underwrite all classes of insurance policies. 
It would be recalled that the company won the Nigerian Stock Exchange’s 31st annual president’s award for 2007 financial year for the third time. 
Balogun therefore reminded that its impressive performance in the stock market was part of its commitment to continue to create wealth for its esteemed investors. 
While reiterating the commitment of the company to continue to provide succour to its clients, he said that Intercontinental Wapic was set for a leadership position in the country’s insurance industry.
“Our strategic focus for the next 10 years will be driven by our commitment to be the best insurance company around,” he said. 
Intercontinental Wapic was licensed to underwrite general businesses while Intercontinental Wapic Life, carries out the life insurance businesses. 
It has a track record of consistent dividend payout in recent years and it is backed up by reputable reinsurance companies to enable it to underwrite all major risks in the sector.