By Adedapo Adesanya
The National Insurance Commission (NAICOM) has lauded the input of Mutual Benefits Assurance Plc in driving insurance penetration through its retail insurance business as the company has promised to sustain its leadership role in the sub-sector.
The Commissioner for Insurance, Mr Sunday Thomas, praised the underwriting firm when he paid a courtesy visit to one of its retail outlets located in Mushin, Lagos.
The Commissioner noted that the underwriter has chosen the right path as retail remains the sustaining force for the under-tapped insurance sector in the country.
“I’m very excited with what I’m seeing here. This is because retail business is what will sustain the insurance business. It is amazing seeing what you have here,” he submitted.
He noted that President Muhammadu Buhari was planning to pull out about 100 million Nigerians from poverty, adding that the insurance industry was leading the way through firms like Mutual Benefits that have given many people opportunities to better their lives.
Mr Thomas implored employees of the organisation, who were all delighted to see him, to sustain their contributions to the insurance sector and by extension the economy, stressing that the people are what make Mutual Benefits unique, and not the offices and buildings.
On his part, the Managing Director, Mutual Benefits Assurance Plc, Mr Femi Asenuga, noted that with the structures being put in place by the regulator, his company and other underwriters are better equipped to thrive and soar to lofty heights.
He said the company has a motivated workforce, adding that with the commitments being exhibited by the employees, Mutual Benefits has gained national popularity as it is well received in every part of the country.
Mr Asenuga maintained that the firm would continue to sustain its leadership role in retail marketing, adding that the firm would continue to open new grounds for insurance growth in the country.
On his part, the MD/CEO of Mutual Benefits Life Assurance Limited, Mr Ademola Ifagbayi, said the visit of the commissioner heralds a new beginning in the company, adding that the endorsement received from him acts as a morale booster to the management and staff who are ever prepared to do more.
He assured Mr Thomas that the company would continue to operate in line with regulatory principles, whilst doing more to provide the best insurance products and services to the citizenry.
