The London Stock Exchange (LSE) has recognised ARM Life Plc, following the company’s contribution to Nigeria’s Gross Domestic Product (GDP).
This honour came after the company was featured in the ‘Companies to Inspire Africa 2019 report’, which was published by PwC Africa in conjunction with the LSE.
The NSE, recently partnered with the LSE and PwC Africa to host participating companies, market operators and international participants in Lagos.
The British Deputy High Commissioner would also host a networking reception, and select fast-growing companies in Africa, to celebrate the launch of the report in Lagos.
According to the LSEG, the criteria for giving the awards to ARM Life were its high standards of corporate governance, year-on-year growth trajectory, ethical business practices: challenging the status quo and being the benchmark for competition in this regard.
The Managing Director, ARM Life, Mr Stephen Alangbo, while speaking on the recognition said, “This in turn makes us a delight to our customers and partners thereby gaining their loyalty.”
He explained that the company’s year-on-year growth achieved in gross premium written, profitability and policy count were attributable to the unique strategy and values of the organisation.
The 2018 financial report of the company showed that ARM Life paid N604.15 million claims to its customer in the year under review, while its gross premium earned rose from N3.58 billion in 2017, to N5.699 billion in 2018.