On November 1st, 2017, the parties launched ‘Servier Insurance’, a loyalty product which will provide Life and Health insurance cover to all Servier customers in Nigeria. While customers purchase medication, they will now be required to register the drugs to activate the insurance cover for free.

Speaking on the occasion, Ayoola Dominic, Director of Operations, Middle East and Africa (MEA) Division – Servier International, stated: “Servier is on an aggressive growth trajectory in Nigeria, and we feel this is the right time for us to collaborate with MicroEnsure to provide high quality medical services to low-income earners in the country. We approached MicroEnsure because we believe that the organization is in a good position to help us achieve this objective. Servier and MicroEnsure share a common objective of understanding needs of unserved low and middle income segment of society. We are excited about this partnership and look forward to a fruitful partnership with MicroEnsure.”

The parties have proven ability to bring new products to the market, tailored to meet the needs of mass-market consumers at the best prices available. FBN Insurance indicated that they are confident that the partnership with Servier and MicroEnsure will be a successful one.

Adeola Akinyode, Account Executive – MicroEnsure West Africa Limited commented that “MicroEnsure is honored to partner with Servier as they continue their expansion drive, and appreciate the partnership as another step towards the goal of enhancing financial inclusion in Nigeria”.

Servier Nigeria Pharmaceuticals is the No. 1 independent French pharmaceutical company and the 2nd largest French Pharma Company in the world with over 21,200 employees with 3,000 in Research and Development, preparing the drugs of the future.

In 2015, 27% of Servier’s turnover (4.0 billion euros) was invested in Research and Development. Servier is present in 148 countries over 5 continents with 92% of Servier’s medicines being prescribed outside France.

MicroEnsure West Africa Limited is a wholly owned subsidiary of MicroEnsure Holdings, UK, the world’s first and largest organization whose exclusive focus is to address the mass market’s need to mitigate risk. MicroEnsure currently serves over 60 million customers across a number of emerging markets in Africa and Asia, 80% of whom have never before been insured. MicroEnsure performs a number of roles which can vary from country-to-country according to the needs of partners but not limited to product design, distribu- tion under innovative process and an efficient back-office function for small ticket insurance products.

FBNInsurance Limited, Nigeria is a subsidiary of FBN Holdings Plc., and a limited liability company licensed to underwrite life and non-life insurance, and provide financial services to corporate and retail customers in Nigeria.

December 14th, 2017
Posted In: 2017 Press Releases

Despite its over 2,000-man strong retail team, FBNInsurance Limited is increasing its investment in retailing to reach every part of the country, the Managing Director, Val Ojumah, has said.

Ojumah, who spoke at the company’s headquarters in Lagos, said this was part of the company’s strategic plans for the year.

He said the firm’s commitment to take insurance to the nooks and crannies of the country indicated its willingness to go the extra mile in providing affordable and responsive insurance to the hitherto uninsured.

He said: “Our strong presence in the retail space cannot be disputed. In spite of the number of insurance companies in Nigeria, we are yet to scratch the surface in terms of the potential of the market.

“As a company, we are looking to consolidate our retail presence, improve on our delivery time and achieve a most effective process for our key functions and deliveries.’’

On the company’s performance in the outgone year, he recalled it was a tough year, one in which inflation figures maintained double digits.

“Various reports have indicated an increase in claims settlement across the industry and massive job losses due to the economic meltdown, which further put a strain on industry. It is a tough time to do business in Nigeria. However, at FBNInsurance, we have kept to our philosophy of doing what we say. We think highly of our customers; come what may, we will always put them first.”

Head of Marketing and Corporate Communications, Elizabeth Agugoh, noted that the company in just six years of incorporation consistently delivered outstanding performance even in light of dwindling economic fortunes of the past two years.

This has been attributed to a strong heritage and an unwavering commitment to the provision of innovative, affordable and accessible insurance packages, she added.

FBNInsurance Limited, an FBNHoldings company, is associated with the Sanlam Group South Africa.

November 20th, 2017
Posted In: 2017 Press Releases

FBNInsurance Limited, has provided a Group Family Shield cover valued at N14.5m for the members of the National Association of Insurance and Pension Correspondents (NAIPCO).Speaking during official presentation of the policy certificate to the leadership of NAIPCO in Lagos, the Managing Director of FBNInsurance Limited, Val Ojumah, said NAIPCO is a major stakeholder to the company and insurance industry.He stated that the company places high premium on its stakeholders:
He said: “For us, our stakeholders, both internal and external, are major drivers of the success of our business.

NAIPCO is a major stakeholder for us. Providing the association with a Group Family Shield cover is our way of showing them how much we value and appreciate what they do,” he said.

“Today marks the beginning of another fortune in this partnership. This document exemplifies the fact that should the unforeseen happen, FBNInsurance would stand by you.

While we hope you find the document in order, we also hope that this will help to foster a better working relationship with you.  Please consider this as our commitment to the ideals and values your association stands for.”

While accepting the policy certificate on behalf of the members of the association, Omobola Tolu-Kusimo, President, NAIPCO, praised the management of FBNInsurance for its benevolence and for another addition to its many firsts as this has never been witnessed in the history of the association. “FBNInsurance has done well with this CR&S initiative and on behalf the entire members of NAIPCO, I thank you for this.

We have always been good partners in progress, we will not relent,” she concluded.
The FBNInsurance Group Family Shield cover provides support in the case of permanent disability or death. Available to all categories of association, group or society, the cover seeks to foster unity within a group while ensuring every member is protected from stated uncertainties in the course of their daily tasks.

With a large retail network of about 2,000 retail sales agents operating from 28 sales outlets and 3 branch offices nationwide, FBNInsurance is devoted to exploiting the vast uninsured public with a view to bringing affordable insurance to everyone.

November 20th, 2017
Posted In: 2017 Press Releases

In a bid to continually touch lives in the society, FBNInsurance Limited and FBN General Insurance Limited, have reached out to the Down Syndrome Foundation, as part of their end of the year appreciation activities.

While receiving the combined team of both companies at the administrative office and resource centre of the Foundation in Lagos, the Foundation’s Administrative Manager, Muyiwa Majekodunmi, thanked the companies for the kind gesture and used the opportunity to enlighten the team about Down syndrome.

According to him, Down Syndrome is just a freak of nature, it’s a chromosomal defect. Each cell contains 21 chromosomes but for Down Syndrome patients, somewhere along the line during conception, an additional chromosome pops up thus causing the condition.

“These are wonderful kids and the reason why we exist is to act as an advocacy group for them and ensure that they become useful to themselves and the society. We are like that bridge between them and the society,” he added.

Also, the Managing Director, FBN General Insurance Limited, Bode Opadokun, appreciated the management of the Foundation and charged them to keep up the good work.

“We know something great is happening here and as companies committed to the general upliftment of the society, we will always do our bit to encourage and support the continuous success of this Foundation,” he said.

The companies donated various food items, toys, beverages and a cash amount to the management of the Foundation.

November 20th, 2017
Posted In: 2017 Press Releases

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