Anchor Insurance Pays N957m Claims in 10 months


By Ebere Nworji

Anchor Insurance Company Limited said it paid a total of N957 million claims to its policy holders in the past 10 months.

The company’s Managing Director, Mr. Ebose Augustine, giving a breakdown of the claims paid according to the classes of insurance, said N204.3 million was paid to affected customers under the oil and gas class of business.

He also said general accident took N197.5 million claims, while motor insurance took N197.4 million.

According to Ebose, loss of employment insurance scheme took N108.6 million, while N89.1 million went to those affected under the engineering class.

According to him, others included marine insurance where affected claimants received N63.2 million, fire class was N33.1 million and bonds – N27.7 million respectively.

He further disclosed that Covid-19 pandemic affected businesses and lives which gave rise to high cases of claims demands on insurers.

“We at Anchor Insurance had our own fair share of the claims report, especially the loss of employment insurance scheme but we are equal to the task as the primary duty of any insurance company is to pay claims,” he said.