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Anchor Insurance Records 72% Growth In One Year


Jan. 23, 2020

A relatively unknown brand in the recent past, Anchor Insurance Company Limited has turned out to be the metaphor of reckoning in the underwriting subsector.
From N2.2billion, the highest premium written by the company in its 29 years of existence in 2017, the company has now witnessed a great turn around with its revenue hitting N3.4billion or 72per cent growth mark in 2018. This, by record, is attributed to the steadfastness of the current management who is a little over a year in office.
According to a document exclusively obtained by Daily Independent from the company, the result of 2019 which will be made official after all regulatory approvals are received is already showing an 82% improvement on the 2018 results, the development that has earned the company two awards as the Fastest Growing Insurance Company in Nigeria (one has been received while the other by an internationally acclaimed magazine will be received in London next month).
Anchor Insurance company runs a clean claims administration with utmost peace with its clients basically due to deliberate policy of ensuring that verifiable claims are promptly paid.
We do not tell stories when genuine claims reports are made. This was our biggest feat in 2019. This has earned us strong acceptance, consequently showing positively in our bottom lines.
Anchor Insurance was almost not a known or popular brand before now. However, due to a deliberate decision of the new Management to be a reference item in the nation’s insurance sector, the Company rolled out campaigns on television (both national and international stations). In the course of 2019, the Company has become a phenomenon and a subject of envy in the insurance space in Nigeria.
The company’s corporate governance is second to none. Shareholders are at peace with their investments.
Whereas most companies have not been able to pay dividends to shareholders, Anchor Insurance maintained its dividends payment record in 2019.
Whereas companies reduced the strength of their workforce, Anchor Insurance raised its own to 201 from 98 and further raised the salaries to figures now being referenced by other companies during the year.
As a company that believes in rejuvenating our culture as a people, Anchor Insurance was the only insurance company among the sponsors of the National Festival of Arts and Culture which held in Edo State in October. The company was specially recognised for this by the federal government.
Anchor Insurance under the new management has challenged itself to make insurance a value-adding business. Anchor caused an excitement and breathed a fresh breathe on the insurance sector when it held an end of year event it called “Anchor Evening of Bliss” which was widely reported by the media.
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