Sanlam General Insurance Records  Impressive Growth in 2023

Ebere Nwoji 

Sanlam General Insurance Nigeria Limited, a subsidiary of Sanlam Life  Insurance Nigeria, has said that its financial results last year was very  impressive with a Gross Premium Written of N16.1 billion and claims payouts totaling N3.9 billion. These figures represent a notable increase of 41 percent and 26 percent respectively, from the previous year, showcasing the company’s growth and commitment to customer satisfaction.

She also said Sanlam’s profit before tax  surged by 134 percent climbing from N1.8 billion in 2022 to N4.4 billion in 2023, while its total assets grew by 42 percent increasing from N16.1 billion to N22.8 billion during the period under review, underscoring the company’s strong financial position and ability to meet its obligations.

Commenting, Bode Opadokun, Managing Director/CEO of Sanlam General Insurance,  Bode  Opadokun expressed his satisfaction with the company’s financial performance, particularly the growth in profit before tax, shareholders’ funds, and total assets.

Opadokun reaffirmed the company’s dedication to excellence, noting that settling genuine claims remains the insurer’s highest priority. 

“We are fully committed to earning and maintaining our clients’ trust through exceptional service and prompt delivery. Our focus on delivering innovative, customer-centric insurance solutions has been instrumental in achieving these results. We are committed to providing unmatched value to our shareholders and ensuring our customers receive top-tier financial protection,” Opadokun said.