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Crystalife Assurance reviews performance

By Patience Saghana
Crystalife Assurance  Company Limited has renewed its commitment to surpass the company’s performance in the second half of the year as the company takes stock of its progress in the first half of the year.

According to the statement issued by Crystalife Assurance, the company has recorded a number of remarkable successes in the first half of the year. Crystalife Assurance has been able to generate premium income of about N900 million to date.

Mrs. Oluseyi Ifaturoti, Managing Director of the company stated that the figures are quite encouraging despite prevailing economic trends.

She affirmed that the company has not rested on her oars to continue to maintain good relationships with all her stakeholders, especially the clients. In addition, she mentioned that the company has been living up to expectations by paying claims promptly as claims settled till date is in excess of N150 million. She further reiterated the company?s commitment to impeccable service delivery as the board and management of the company are executing plans to take the organisation to new pedestals of excellence.

Other notable successes recorded by the company in the period under review is the credit rating by Agusto & Co. The organisation was awarded a Bbb+ rating based return on equity (ROE), which was the highest in the country.

Furthermore, the rating takes into account the support the company gets from its key shareholders in the financial services industry, especially synergies derived from one of its major shareholders, Skye Bank Plc in the form of regular revenues generated through the bancassurance model which includes the cross selling with loan products and low expense structure. The rating consultants believe that the company?s competitive position is enhanced by its shareholders in the financial services industry, which gives her access to grow its market share.

The organisation has also continued to pursue her vision by empowering her human capital with various competence_based training as well as “multi_level” level training programs like the Leadership Development Programme and the recently concluded training programme for the newly employed Bancassurance personnel in a bid to empower and further equip them to be peak performers in their chosen fields.

In conclusion, the chief executive of the company expressed optimism that the company will do better in the second half of the year as it is already putting plans in place to pursue new frontiers and explore more horizons to enable her achieve her corporate goals.


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