International Energy Insurance
The Interim Board and Management of the International Energy Insurance (IEI), said it has embarked on what it termed “Next – Level Measures of Success and Stability”, which aims at reviewing and repositioning the vital areas of operations of the company such as corporate governance issues, investment policies, prompt payment of claims, products, human resources, cost management, and sales growth among others.
Interim managing Director of the company, Peter Irene, speaking on the steps so far taken by the company in this regard, said as part of its corporate restructuring exercise undertaken to improve organisational efficiency, productivity and competitiveness, sound policies have been put in place, including a revamping of human resources, which has necessitated a right-sizing of the work force.
According to him, 50 staff and 34 drivers of the company affected by the exercise, are to be given special exit package’ without delay.
He said IEI brand pulse at the moment portends very positive signs of growth, now and in the future adding that the company has addressed squarely, all issues bordering on the late submission of Annual Financial Statements.
“Our 2013 Financial Statement was approved by NAICOM while 2014, has been submitted and awaiting approval. Our External Auditors are working on the 2015 Financial Statement with the aim of meeting the March 31st deadline set by SEC for quoted companies. We have worked hard to retain existing businesses and break into new market frontiers’, the IEI boss stated.
Speaking on the turn-around measures and repositioning of IEI, the Head, Corporate Communications of the company, Mr. Tamuno Kiri, said it is not a small achievement by the Interim board and management of the company whom he said have succeeded in boosting the brand equity in terms of meeting requirements for the submission of bids and improved turn-around time’.
He said the staff and Management of the company, wholly embraced the structural templates and policies introduced by the Interim Board as a panacea for the overall growth and stability of IEI in line with its core values of Integrity, Friendliness, Dependability, Innovation, Proficiency and her aspirations to be the leading underwriter in Energy and other General Insurance businesses.
He said IEI, is still driven by its mission and commitment to be a dependable Partner while delivering superior value to all stakeholders”.
Recently as part of its corporate social responsibility, IEI donated 15000 exercise books to the Ogun State Government.
The company in a statement said its target in this regard, is to support the state government’s efforts in reaching out to the state Public Schools with basic amenities and learning materials.
It also said the gesture is in line with its philosophy of participatory involvement with the communities where it does business,
Reacting to the kind gesture of IEI, the Ogun State Commissioner for Education, Science and Technology, Mrs. Modupe Mijota, expressed delight and thanked IEI for the exemplary act of social investment in action.