November 29, 2021

Linkage Assurance pays N2.45bn claims in 8 months

INSURANCE: AIO picks holes in regulatory capacity against decline in penetration

By Rosemary Iwunze

Linkage Assurance Plc has paid out N2.45 billion claims in the last eight months of 2021 to its numerous customers that suffered losses during the period under review.

According to the figures made available by the Company, between January 2021 to August 2021, fire claims accounted for N869 million of the total claims.

Daniel Braie, Managing Director/CEO, Linkage Assurance Plc said the amount of claims paid in the period under review is a reflection of the Company’s commitment to meet customer’s expectation despite challenge in the business environment.

“We have met the promise to meet our claims obligations because that is the reason we are in business, to ensure that our esteemed customers who suffer losses are enabled to return to their business without delays”.

Braie said Linkage paid out N369 million on oil and gas risks, while another N247 million was paid on engineering risks. For motor claims, the company paid N493 million for the same period.

Further breakdown of the claims shows that general accident took N222 million; aviation N135 million; marine N67 million, and bond N49 million.

Braie further stated that Linkage Assurance has built capacity to meet her obligation, provide cover in high risks areas of oil and gas, aviation, engineering among others, with strong reinsurance backing to respond to risks maturity at any given time.

“We have put in place claims management processes with strong technology framework that ensures our customers are able to report their claims speedily from anywhere they are without having to come to our office”

He said this is supported by online real-time customer service unit that are on 24-hours to respond to enquiries and complaints of customers from any location across Nigeria.

Meanwhile, the unaudited financial report of Linkage Assurance Plc submitted to the Nigerian Exchange Group for the period ended 30th June 2021 shows a total assets of N35.7 billion, as against N33,9 billion in December 2020.

Vanguard News Nigeria

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