By Rosemary Onuoha

Anchor Insurance Company Limited has paid out N957 million as claims to deserving policyholders as at the end of October this year.

The company’s Managing Director, Mr. Ebose Augustine, disclosed this while speaking with journalists in Lagos recently.

Augustine stated that meeting customers’ genuine claims’  requests adding that doing so within a specified time limit have been parts of the practices Anchor Insurance was known for. He said: “And we take unrepentant pride in meeting our promise of putting smiles back on the faces of our policyholders whenever the risk insured against crystallizes.”

READ ALSO: LSETF launches N5bn post-COVID intervention programme for MSMEs

Giving a breakdown of the claims paid according to the classes of insurance, Mr. Ebose said N204.3 million was paid to affected customers under the oil and gas class, N197.5 million was paid under general accident, N197.4 million was paid under motor insurance, N108.6 million was paid under the loss of employment insurance scheme and N89.1 million was paid to those affected under the engineering class.

According to him, others included marine insurance where affected claimants received N63.2 million, fire class was N33.1 million and bonds N27.7 million respectively.

He said: “Our best advertisement is the timely processing and religious settlement of claims. The company was only living up to its motto, “…where insurance works.”

He further disclosed that the COVID-19 pandemic affected businesses and lives which gave rise to high cases of claims demands on insurers.

He noted that “We at Anchor Insurance had our own fair share of the report of the claim, especially the loss of employment insurance scheme but we were equal to the task as the primary duty of any insurance company is to pay claims.”

Vanguard News Nigeria