Uranta, Former Niger Insurance Boss Retires

02 Jan 2013

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Dr. Justus Uranta

Nnamdi Duru
The former Managing Director of Niger Insurance Plc, Dr. Justus Uranta, has bowed out of the company after holding the position for seven years and having put in 35 years in the country’s insurance industry.

However, due to the fact that the company’s board of directors is convinced that Uranta still has a lot to contribute to the insurance firm, the board has decided to retain him as a Director.
Also, adhering to the succession plan already in place in the company, the Deputy Managing Director, Mr. Kolapo Adedeji, is billed to succeed him pending confirmation of his appointment by the insurance regulatory body, the National Insurance Commission (NAICOM).

Uranta voluntarily resigned from the organisation after spending 35 years in the insurance industry, reasoning that his length of service would have made him to retire had it been he was working in the public service.

He recalled that he joined Niger Insurance with 20 branches in 1998, adding that this has been grown to 45 at the last count. Also premium income of the firm has risen from N199 million in 1998 to N10 billion premium income last year.
He also expressed delight that Niger Insurance, ranked among the first four, was one of the four leading insurance companies in Nigeria at present.

Some of his recent notable achievements at Niger Insurance within this period include a befitting claims payment structure, which ensure prompt payment of claims to policyholders even as a dedicated account was opened solely for claims and commission payment.

Under Uranta, Niger Insurance organised constant training and retaining for its employees both locally and internationally so that they can keep rendering excellent services to their cherished customers.

Besides, the company has successfully deployed electronic platforms and facilities (Tonquest Software and other IT infrastructure) to its regional offices and branches nationwide for quick and reliable service delivery.

Uranta joined the insurance industry in 1977 as an Assistant Officer in the Federal Ministry of Trade and later crossed over to Unity Life and Fire Insurance Company as an Officer from 1978 to 1980. He also worked for BCM Insurance Brokers Limited as Marketing Manager between 1980 and 1981 and General Manager of Veritas Insurance Company Limited between 1988 and 1990.

He was Assistant General Manager in charge of oil and gas business at NICON Insurance Corporation between 1990 and 1998 from where he joined Niger Insurance as an Executive Director (Technical) between 1998 and 2005.

Uranta represented Niger Insurance as Director in the rested Globe Reinsurance Plc, Express Discount Limited, Union Assurance Company Limited, Beta Glass Industries, etc. He was also a member Council at the Chartered Insurance Institute of Nigeria (CIIN); an alumnus of the Lagos Business School and a member of Vision 20:2020 Committee (Insurance sector).

A Fellow of CIIN, Uranta is also a Fellow of the National Institute of Marketing of Nigeria (NIMN), Nigerian Institute of Management (NIM) and Nigerian Institute of Management Consultant (NIMC).

Uranta holds a B.Sc. in Business Administration from Ahmadu Bello University in 1984, an MBA from the Delta State University in 2000 and a Doctorate in Administration from University of the Caribbean. He is also an Associate of the Chartered Insurance Institute, London (ACII).

Tags: Business, Featured, Niger Insurance, Nigeria, Uranta

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