Ebere Nwoji
The management of Sovereign Trust Insurance Plc has said the company has reasons to appreciate its shareholders, stakeholders and customers for their commitment, support and patronage in the past 27 years of operation in the Nigerian insurance market.
The company stated this while announcing plans to hold its 2021 Annual General Meeting.
Head , Corporate Communications and Investor Relations of the company, Segun Bankole said the meeting this year, would hold in Lagos.
He said this followed the approval of the 2021 annual report of the company by the industry regulator the National Insurance Commission (NAICOM) and Nigeria Stock exchange.
Olusegun said in line with the federal government and Lagos State directives on restriction of gatherings of large number in curbing the spread of the COVID-19 pandemic, majority of the shareholders would be participating online via a link on the company’s website with the exception of the approved Proxies of the shareholders.
Speaking on the result of the company for the year under review, Bankole said Sovereign Trust no doubt showed great resilience amidst the various challenges that characterised the operating environment in year 2021.
He said there was every reason to be appreciative to all the shareholders and customers of the company who had shown great level of commitment and patronage since inception 27 years ago.
“Amidst the challenges of 2021, the company ended the financial year under review with a great sense of optimism that the days ahead will continue to look brighter and better”. “Despite the wavering business environment in 2021, the Company recorded Gross Premium Written of N12.7billion over N11.1billion recorded in 2020 representing a 14.4 percent increase. The Net Premium Income equally grew by 11.2 percent from the sum of N6.5billion in 2020, ”he stated.
