Anchor Insurance pays N957m claims in 10 months

Anchor Insurance Company Limited has said it paid out N957 million as claims to its various affected genuine policyholders at the end of October this year.
The firm, which won the Daily Independent Newspaper’s “Insurance Company of the Year 2019”, noted that promptclaims payment to its customers is its tradition.
The Company’s Managing Director, Ebose Augustine, disclosed this while speaking to insurance correspondents in Lagos.
Ebose explained that “meeting customers’ genuine claims requests and doing so within a specified time limit have been parts of the practices Anchor Insurance was known for and we take unrepentant pride in meeting our promise of putting smiles back on the faces of our policyholders whenever the risk insured against crystallizes.”
Giving a breakdown of the claims paid according to the classes of insurance, he said, N204.3 million was paid to affected customers under the Oil and Gas class; General Accident was N197.5 million; Motor Insurance, N197.4 million; Loss of Employment Insurance Scheme, N108.6 million and N89.1million to those affected under the Engineering class.
According to him, others included Marine Insurance where affected claimants received N63.2 million; Fire class, N33.1 million and Bonds, N27.7 million respectively.
He noted that at Anchor Insurance Company Limited, “our best advertisement is the timely processing and religious settlement of claims,” adding that the Company was only living up to its “where insurance works” motto.
He further disclosed that Covid-19 pandemic affected businesses and lives which gave rise to high cases of claims demands on insurers, noting that “we at Anchor Insurance had our own fair share of the claims report, especially the Loss of Employment Insurance Scheme but we were equal to the task as the primary duty of any insurance company was to pay claims.”
He thereafter appreciated the various customers who got smiles back on their faces for “considering us as the insurance company to come to when they needed their insurances,” assuring that “on our part, we will never relent in surpassing our customers’ expectations whenever duty calls on us.”