Shareholders of Linkage Assurance Plc, have commended the board and management for the company’s performance in 2020 despite challenges posed by Covid-19 pandemic.
The shareholders, who were excited during the company’s 27th Annual General Meeting held in Lagos, applauded the company’s dividend pay-out as well as the bonus it offered in a difficult year.
Shareholders such as National Leader Emeritus, Independent Shareholders Association of Nigeria, Sunny Nwosu; Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie, Nona Awoh, and President, Noble Shareholders Association, Mathew Akindele, were among others at the meeting.
They also noted that this was despite the fact that the industry was going through a recapitalisation exercise, and requires more money to meet the regulatory requirement.
The meeting which was hybrid, in compliance with the Covid-19 restrictions, gave approval to capitalisation of N2 billion retained earnings for bonus issue of two shares for five shares held by members of the company; as well as dividend payout of N500 million, translating to 5kobo per share.
Chairman of the Board, Chief Joshua Fumudoh, while responding to the shareholders’ questions on recapitalisation plans of the company, said Linkage Assurance has put in place strategies to recapitalise its operations.
According to him, “given the performance in 2020, and the capitalisation of N2 billion at the Annual General Meeting, we are sure we will deliver the company when the recapitalisation exercise is called up again.”
On the future of the company, he said, “As we gradually commence recovery from the effects of the global Covid-19 pandemic, we will tread cautiously into the year 2021 in our risk acceptance and operations, in line with our strategic roadmap.
“We shall continue the repositioning strategy aimed at transforming your company to that desired position in the Nigerian insurance market.”
Also speaking, the Managing Director of the company, Mr. Daniel Braie, while responding to shareholders’ questions, explained that the company would continue to redefine its strategies to ensure better performance and increased value for the shareholders.
“We will continue to refine our strategy in line with the political, economic, sociological, and technology changes in the industry, particularly with impact of the Covid-19 pandemic on the business landscape,” he added.
