SUNU Assurances Considers Expanding Market Share to Excite Shareholders
By Dipo Olowookere
Managing Director of SUNU Assurance Plc, Mr Samuel Ogbodu, has hinted that the company was planning to boost its market share so as to improve shareholders’ value.
Mr Ogbodu, in a chat with reporters in Lagos recently, stated that the firm aspires to become one of Nigeria’s 10 largest underwriting companies in the next five years.
According to him, the insurer hopes to achieve this goal by growing its business through exploration of the retail market.
“We want to take advantage of Nigeria’s population to boost our market share in the industry and thus enhance the value of our stakeholders.
“We would boost insurance penetration in the country by exploring the retail market to bring insurance services to 180 million Nigerians in all the nooks and crannies,” he told journalists.
He stated further that, “We would leverage on SUNU Group’s expansive retail knowledge and expertise to drive retail insurance in Nigeria and build long-term growth.
“The board and management are committed to running the company in the most professional way with a view to creating values for shareholders and other stakeholders.”
Mr Ogbodu noted that the acquisition of Equity Assurance Plc by SUNU Assurance Group in 2016 has caused a positive turnaround.
According to him, the insurance company has been transformed from a struggling one on the brink of bankruptcy to a viable insurance company in Nigeria, with a growing reputation for professionalism and prompt claims payment.
He assured shareholders of SUNU Assurance of better days ahead, asking for more of their support in growing the company together.