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Great Nigeria Insurance Plc (GNI) said it paid a total of N501.6 million claims in the first quarter of this year. Great Nigeria Insurance spokesperson and corporate communications/brand manager, Oyinkansola Sobande, in a statement on the total claims so far paid by the company this year, stated that claims experienced so far have been very alarming, a situation she attributed to the downturn in the economy. According to her, “every insured wants to claim at every given opportunity which impacted the company’s claims figure since the occurrence of the pandemic.” Giving the breakdown of claims paid by the company in the first quarter of 2021, she said Group Life Insurance had the highest figure of N422 million while General Insurance business totalled N79 million. ....
For over a decade now, Sovereign Trust Insurance Plc has consistently maintained a confident A- rating with the international rating agency, Global Credit Rating, based in South Africa. The Rating Agency’s recent solvency and operational report for financial institutions in Nigeria and other allied businesses released in December 2020 affirmed that Sovereign Trust Insurance Plc has great potentials for growth in the years ahead considering some of the strategies that have been put in place to propel its operations. Global Credit Rating noted that the Company has shown a great deal of consistency in her claims-paying obligations to her numerous customers spread all over the country. ....