Underwriting firm, Universal Insurance Plc, said it paid N471,500 million claims to Next Cash and Carry, a supermarket in the Federal Capital Territory (FCT), that got burnt as a result of a fire incident that took place in December, 2021.
The Insurer, which recently won the ‘Insurance Brand’ of the year Award 2022 at the Independent Newspaper Awards ceremony, said it has remained steadfast to prompt claims payment to policyholders.
Prior to this, the company said it paid a total of N1.2 billion claims to its
policy holders who suffered losses between 2015 to 2020.
The breakdown of the claims paid showed that the company paid N111.1 million in 2016, N330.3 million in 2017, N334.2 million in 2018 and N338.2 million claims in 2019 bringing the total claims to N1.2 billion on nine classes of insurance.
While speaking on the company’s claims profile, Managing Director and Chief
Executive Officer of the company, Dr. Benedict Ujoatuonu, disclosed that the
company’s commitment to satisfying her clients was non-negotiable.
“We understand the importance of prompt claims settlement, and we remain
steadfast in our resolve to deliver on our promises to our valued clients,” Ujoatuonu said.
The insurer has in the meantime, expanded its presence within Lagos to boost
insurance accessibility in the country.