Veritas Kapital Assurance Pays N0.626bn in Claims 

Bennett Oghifo

In fulfillment of its pledge to promptly settle claims to the delight of its customers, Veritas Kapital Assurance Plc, has paid N0.626 billion in claims for the period ended June 2022 (H1 2022). 

According to the Managing Director and Chief Executive Officer, Kenneth E. Egbaran, Veritas Kapital Assurance Plc will continue to exceed customer expectations in claims settlements.

The recently released H1 2022 result showed that total assets grew by 13% within the period under review, from N14.4 billion to N16.4 billion. Though the group’s result showed a loss after tax of N170.4million, a sum of N4.08 billion was reserved to take care of policyholders’ liabilities, while shareholders’ fund grew to N10.7 billion from N9.8 billion reported in HI 2021 as the company keeps its focus to remain one of the leading insurance companies in Nigeria.

Just a year ago, the company launched two E-Product channels to bring affordable protection products to the easy reach of our growing customers, on-the-go; an e-commerce website and WhatsApp channel as one-stop shop that ensures seamless/convenient buying and delivery of insurance solutions. These innovative E-channels offer affordable retail insurance products such as: Householder; Accident; Fire; and Third-Party Motor insurances. 

The products cost between N1,750 and N7,500 and provide coverage of up to N3 million and can be purchased within 5 minutes from any internet-enabled device. 

Egbaran said the company will keep improving its business offerings to all prospective insureds and customers whilst delivering a seamless customer experience.