ROYAL Exchange Plc said it generated a gross written premium of N12.8 billion for the 2017 financial year.
The figure represents a 2.4 percent increase from N12.5 billion recorded in 2016.
Addressing shareholders at the company’s annual general meeting in Lagos, Chairman of the company, Kenny Ezeanwani Odogwu said that the company has embarked on a digital transformation process to streamline major components of her businesses, service delivery, processes and operations to deliver superior returns to shareholders.
The company said the move is to reposition the company as not only a major industry player but as a potential game changer.
Potential game changer
Odogwu said, “The Company believes that taking advantages of growth initiatives available in the industry while leveraging on technology will expand its revenue base and stronger bottom-line. Royal Exchange continues to stay abreast with many of the initiatives mentioned above in our quest to grow market share and attain market leadership position.”
Alhaji Auwalu Muktari, Group Managing Director/Chief Executive of the company said the board and management has very high expectation for 2018.
“We remain resolute to bring in our best to the table even though various analysts’ expectations for economic growth remain modest. The focus would be on achieving long-term sustainable growth for our company through the deepening of our revenue base, improving service delivery support systems and at same time keeping a lid on our group-wide costs.”