Africa Re lauds Mutual Benefits on retail development

Africa Re has urged Mutual Benefits Assurance Plc to expand the development of its micro insurance initiatives to other countries in Africa.

The Regional Director, Africa Re, Mr. Sori Diomande, stated this when he led a delegation of Africa Re on a courtesy visit to Mutual Benefits in Lagos, to congratulate the firm for emerging as the ‘Most Innovative Insurance Company in Africa’ at the African Insurance Organisation summit.

“Mutual Benefits inspired the whole world with commitment to retail and has been taking insurance to all doors steps of Nigerians. Though with root in Nigeria, it should reach out to help their counterparts in Africa because it has distinguished itself as a model for other countries in Africa,” he said.

According to him, the award as Africa’s most innovative insurer exemplified the dynamism of Nigeria when it comes to business.

The reinsurer said the award was well deserved because the panel that handled the African awards was made up of qualified specialists from all over the world including Europe.

He challenged Mutual to keep up the momentum and commitment to retail as a way to grow insurance industry in Nigeria.

The Group Managing Director, Mutual Benefits, Dr. Akin Ogunbiyi, said the award was a credit to the Nigerian industry, adding that the National Insurance Commission should be commended for its support to the firm and other insurance companies in Nigeria.

While expressing his happiness to be leading “the most innovative team in Africa’s insurance industry,” Ogunbiyi said the company was also proud of its “strategic partnership” with Africa Re.

He said the firm was already making impact in countries where it had its operations like Liberia and Niger Republic.

Source: Punch