Sovereign Trust reiterates commitment to professional underwriting at 25
By Ngozi Onyeakusi–Sovereign Trust Insurance Plc has restated its commitment to professional underwriting just as it celebrated 25 years of existence as a front-line underwriter in Nigeria.
The Underwriting Firm while commemorated her 25th anniversary a day after the New Year with a special thanksgiving held at the company’s Head Office on 17, Adetokunbo Ademola Street, Victoria Island, Lagos, promised to set a new underwriting standard in the industry going forward.
The occasion, according to the firm, was used as a moment of reflection and gratitude for members of Management and Staff of the insurance company when they all gathered early in the Year to acknowledge God’s faithfulness upon the organization in the last two and half decades.
A statement today by the firm’s Deputy General Manager, Sales & Corporate Communications, Olusegun Bankole, stated that the Managing Director/CEO of the Firm, Mr. Olaotan Soyinka, used the occasion to thank the company’s customers and associates alike for their patronage, support and their belief in the story called Sovereign Trust Insurance Plc.
In his words, “as a transiting world-class organization conscious of our brand equity, the company has a well-entrenched culture of upholding sound moral and professional ethics beyond profit.
“For Sovereign Trust Insurance Plc, the journey has just begun and the insurance industry is set to witness a new and more innovative way of underwriting insurance business in Nigeria.”
The firm, the statement stated, no doubt has become a reckoning force in the Nigerian Insurance landscape.
The vision of one of Nigeria’s prolific underwriters, Mr. Oluseun O. Ajayi ably amplified with the support of a prominent Boardroom guru and Entrepreneur, in the person of His Highness Ephraim F. Faloughi, OON, has today, become a household name in the insurance industry in the country.
Together, this duo and the pioneering members of Management and Staff nurtured the company from birth to maturity and ever since, the journey has been forward-looking for a better tomorrow for the underwriting firm.
Two and half decades after, Sovereign Trust Insurance Plc has indeed made commendable strides in the insurance industry in Nigeria. From inception, the company moved from an average industry rating to a leading position, investing in the best of people and technology, improving on processes, growing market share at an average annual growth rate of 30%, while consistently expanding the balance sheet size of the company.
The ownership of the company is made up of diverse shareholders from wide range of individuals and institutional investors with a robust Board of Directors of distinguished personalities under the chairmanship of the hitherto pioneer Managing Director, Mr. Oluseun Ajayi