Sovereign Trust Insurance Plc has won the ‘Best Insurance Company of the Year’ award by Champion Newspapers Ltd.
This was announced by the company in a statement made available to THISDAY in Lagos.
The award conferment letter, was signed by the Editor, Daily Champion, Mr. Kelvin Egerue.
The statement said the 25-year-old company was selected from a list of five insurance and reinsurance companies operating in Nigeria and across the West African insurance market which were shortlisted for the award.
According to the statement, the Executive Management and Board of Directors of Champion Newspaper approved the selection of Sovereign Trust as the Insurance Company of the year, saying the the risk management and underwriting company parades outstanding profile which stood as the benchmark for measuring successful organisations in Nigeria.
Also, in a letter to the Managing Director and Chief Executive Officer of Sovereign Trust Insurance Plc, Mr. Olaotan Soyinka, conveying the award, the Group Managing Director and Editor-in-Chief of Champion Newspapers Limited, Mrs. Nwadiuto Iheakanwa, noted the company’s impressive performances in key revenue lines including the company’s compliance to all regulatory requirements especially in the areas of capital adequacy and solvency margins.
“On all scores, our findings, largely corroborated by that of independent assessors, confirmed that Sovereign Trust Insurance Plc under your management has become an insurance company of first choice among teeming customers given its array of cutting edge products which have earned the financial institution commendations from informed economic analysts”, Iheakanwa stated.
She noted that judging by the uncommon zeal and commitment of Sovereign Trust Insurance in growing Nigeria’s economy by supporting business and boosting the development of micro, small and medium scale enterprises (MSMEs), the award accessors had no other choice than adjudging the company the winner of the award.