Universal Insurance Pays N471.5m Claims to  Abuja Fire Victim 

Universal Insurance Pays N471.5m Claims to  Abuja Fire Victim 

Ebere Nwoji

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.

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