|
Getting your Trinity Audio player ready...
|
The ongoing reforms in the nation’s insurance industry, strategic partnerships with foreign players and growing mergers and acquisition will open up growth opportunities in the industry.
Consequently, well focused organisations will find their feet and take advantage of the new opportunities to increase shareholder value, Chairman, Capital Express Assurance Limited Babatunde Adenuga said during the Company’s 12th Annual General Meeting in Lagos.
“Going forward it’s expected to be even more competitive as more companies are developing new ways and means of retaining and growing their business. However, the Competitive landscape will present a number of opportunities particularly from the newly approved licenses and possibility of new economic–driven mergers that will create mega entities in the industry”
Adenuga assured the shareholders that Capital Express was strategically positioned to face the New Year and respond to the ever changing economic environment.
A series of deliberate actions necessary to turnaround the fortunes of our foreign subsidiaries and reposition them for better performance will be key part of our strategic thrust in the coming year.
Capital Express Assurance Limited in the 2012 financial year recorded N2.8bn premium, while also achieving a 79 per cent growth in investment income in the financial period under review.
The chairman said that the current year promises to be better in terms of premium drive and increased performance. “With fervent pursuit of our corporate strategy and business approach, we would leverage on our strength with promises of better and more rewarding 2013,” he said.
He said Capital Express was strategically positioned to face the challenges of the new year and respond to the ever changing economic environment.
The firm, he added, would diligently execute its current business plans intended to position the company as a clear leader in its various markets. “We will continue to focus on optimal resource deployment, empowerment of our employees, utmost professionalism, high values and ethical standards, and sound governance and risk management practices,” he said.
The chairman said that its management and employees remained pivotal in the growth aspirations of the company as they continue to drive and support its growth.
Modestus Anaesoronye
