Sovereign Trust Insurance to Embark on Branch Expansion


Ebere Nwoji

Sovereign Trust Insurance Plc, said it will embark on a branch development strategy that will position the company and its services as a household brand.

Presently, the company has presence in Lagos with three area offices in Apapa, Ikeja, Lagos Central and an agency office in Lekki as well as its head office in Victoria Island. It also has offices in other cities including Port Harcourt, Ibadan, Abuja, Aba, Akure, Enugu and Kaduna.

But in a recent statement, the company’s Managing Director, Mr Olaotan Soyinka, said the company is currently in a good position to spread its branches across commercial towns in the country to ensure proper distribution of its products.

“As a transiting world-class organisation conscious of its brand equity, the company has a well-entrenched culture of upholding sound moral and professional ethics beyond profit.
“From inception, the company has significantly shown upward progression in every area of its operations making it one of the fastest growing and upwardly mobile insurance companies in the country,” Soyinka said.

According to him, for Sovereign Trust Insurance, new things are just coming into the market, saying the company was ready to bring in innovation that would turnaround the industry.

“The journey has just begun, and the insurance industry is set to witness a new and more innovative way of doing insurance business in Nigeria amidst the challenges and opportunities that have trailed the emergence of covid-19 in the country and beyond,” he said.

Speaking further he said, “the journey of a thousand miles, they say begin with a step. No matter how rough that journey might be, the dogged and focused ones never lose sight of where they are headed. They keep forging ahead until the mission is finally achieved”.

He said the above illustration captures the journey that Sovereign Trust Insurance had embarked upon, maintaining that Sovereign Trust Insurance has clearly shown that it is in a different and distinct league from other insurance companies in Nigeria as regards brand positioning.

Soyinka, said Sovereign Trust Insurance has a futuristic vision of wanting to be a leading brand, providing insurance and financial services of global standard.

He also said the company is the only insurance company that has undertaken an all-expense paid trip for soccer loving Nigerians to an international football competition when it sponsored some lucky Nigerians to the 2008 African Cup of Nations in Accra, Ghana.

According to Soyinka, Sovereign Trust Insurance was the official Insurer for the Nigerian Contingent to the All-African Games in Algiers, Algeria in 2007.