Anchor Insurance Company Limited has said that its gross premium income grew by 23 percent for the financial year ended December 31, 2015.

Managing Director/ Chief Executive of the company, Mr. Ademayowa Adeduro who disclosed this to insurance journalists during a pre-Annual General Meeting media parley held in Lagos, said that the figure stood at N2.34 billion in contrast to N1.91 billion recorded in 2014.

Adeduro disclosed this in Lagos to announce the AGM of the company slated for Friday, October 14, 2016 at Uyo, Akwa Ibom state.

He said that the company’s total assets showed a growth of seven per cent with N5.4 billion recorded in 2015 compared to N5.0 billion recorded for 2014.

He added that average gross premium growth for five years was 21.4 per cent while the company’s total claim for the year increased by 85 per cent from N273 million to N505 million in 2015.

Poised to remain committed to claims payment, the Anchor boss said that in the past five years the company has paid a total of N1.43 billion as claims.

He said, “The Company manage its level of activity during the year as its net premium income increased from N1.630 billion in 2014 to 1.842 in 2015 representing an increase of 13 percent”

The company also announced retirement of three of its directors having served the stipulated time as regulated by National Insurance Commission (NAICOM) and they are Dr. Micheal Ntuk; Barrister Bassey Anwanane and Dr. Emerson Udom.

Adeduro affirmed that with a penchant for prompt claims payment and innovative insurance products, the company is set to launch her newest product; Anchor loss of Employment Insurance Scheme (LoIES).

According to him, the product was designed by the company and approved by the National Insurance Commission, NAICOM, to meet the yearnings of the insuring public to address contemporary challenges of the working class in the event of loss of job. This product guarantees a maximum of 24-month salary payment after job loss, Adeduro stated.