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Tag: Linkage

  • Linkage to host NCRIB members’evening

    Linkage Assurance Plc has opted to host the February Edition of Nigeria Council of Registered Insurance Brokers (NCRIB) Members’ Evening. The insurance firm said it chose to host the event as part of efforts to extend its operation frontiers and break new grounds in its relationship with brokers.

    A statement by NCRIB said the Bi-monthly event, scheduled for T.A Braithwaite Events Hall, Insurance Brokers House, Yaba Lagos, on February 26, 2019, would be graced by top notch of the insurance broking professionals.

    The Council said the hosting of brokers under the aegis of the NCRIB by Linkage would be symbolic, given the fact that it would be the first edition of the Council’s members evening in 2019 and over 300 brokers within Lagos and its environ would be hosted.

    The statement read: “The event would be a win-win one for both Linkage and brokers as it would facilitate harmonious relationship between both parties. It is a known fact that brokers constitute a crucial chain in the insurance industry in Nigeria, given the enormous clientele controlled by them. The Linkage team would be led to the event by its Managing Director, Mr.  Daniel Braie. Linkage prides itself as one of the leading companies in Nigeria with a reputation for prompt and accurate service delivery, efficiency and customer satisfaction.”

     

  • Linkage Assurance optimistic about 2019

    Underwriting firm, Linkage Assurance Plc, is positive that its business in  2019  will witness efficiency in operation, quality service delivery to customers and increased value for its shareholders.

    The underwriter believes that with increased investment in technological infrastructure as well as quality manpower, which the company has attracted in the outgoing year, the future is bright for the company.

    The Managing Director/CEO of the company, Daniel Braie, made the remark at the company’s 2018 End of the Year Dinner and Awards at Lekki Coliseum, Victoria Island, Lagos.

    Braie, who praised members of staff for their contributions in 2018, said the company was able to overcome the challenges in the business environment because of the commitment of the workers.

    He said: “The business environment was very challenging in 2018 to the extent that companies were having difficulties but with God on our side, we did not perform badly.

    “We have been able to attract quality staff, better infrastructure to enable us deliver quality service in the coming year, and I am hopeful that we will do better in 2019.”

    Braie, however, charged the workers to redouble their efforts to sustain the growth achieved so far and the targets it has set for itself as a company.

    The company also rewarded its staff who showed outstanding performance in their different departments last year.

  • Linkage pays dividend

    Linkage Assurance Plc has paid a dividend of 5 kobo per share to its shareholders.

    The shareholders, who were excited at the 2017 Annual General Meeting held in Lagos, urged the board and management of the firm to reinforce the marketing team and distribution channels to aid more growth in premium and profitability for the company in the coming years.

    The firm announced a gross premium written of N4.10 billion in its financial year end as against the N4.03 billion it recorded in 2016.

    Gross premium income grew by six percent to N4.18 billion in the year under review as against N3.96 billion the previou year.

    The underwriting firm’s Profit Before Tax rose by 218 percent from N942.68 million to N2.996 billion in 2017, while the Profit After Tax also appreciated significantly by 431 percent to close at N2.891 billion in 2017.

    Total assets also appreciated by 15 percent to N23.3 billion in 2017, from N20.33 billion in the previous year, while a total of N1.038 billion was paid out as claims in 2017 as against N613.2 million in 2016.

    The firm’s Chairman, Joshua Fumudoh, who announced the result, said the firm was determined to take advantage of developments in the economy by developing strategic initiatives, such as deployment of online portal for selling of motor insurance, as well as repositioning its bouquet of retail products like the Third Party Plus to ensure sustainable growth for the company in 2018 and beyond.

    Daniel Braie, the company’s Acting Managing Director, said the company will continue to refine its strategy in line with the political, economic, sociological and technological changes in the industry.

    ‘’We will also continue to develop innovative products, alternative channels of distribution and strategic initiatives that will enable us achieve our corporate goals and objectives. With a medium-to-long term perspective, we believe that we will benefit from growth in these initiatives,’’ Braie said.

  • Linkage gets NAICOM’s approval to underwrite agric

    Underwriting firm, Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance in the country.

    A statement made available to journalists stated that the ‘no objection’ nod will enable Linkage support the farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

    It read: “Among the products approved include Linkage Assurance Crop Insurance Solutions; Linkage Assurance Farm All Risk lnsurance; Linkage Assurance Farm Motor lnsurance; and Linkage Assurance Livestock lnsurance solutions. Linkage management in a statement made available to journalist said the Nigeria’s agribusiness sector needs insurance to remain sustainable and achieve long term growth expectation.

    “Stakeholders in the agricultural value chain need to embrace insurance by reducing retained risk and transferring the burden to insurers for effective risk management. With this approval, we are positioned to broaden its product offerings to consumers, which is in line with the federal government objective to deepen insurance penetration in Nigeria. Also by this development, it is strategically accelerating its business objective of building a dominant company in the insurance industry.

    “Linkage Assurance Crop Insurance Solutions provides cover against unavoidable loss of crops or resulting directly from the insured perils, example flood, drought, excessive rains, hailstorm, diseases and pest, with covers including Weather lndex Crop Insurance; Area Yield – lndex Crop lnsurance and Multi-peril crop insurance.

    The Linkage Assurance Farm All Risk lnsurance is designed to cover the farm buildings/contents, farm products and machineries against theft and fire. It also provides cover on general accident for farm staff and farmer’s legal liability.

    “While, Linkage Farm Motor insurance protects the insured for loss of or damage to vehicles used in the farm or agricultural business, damage to Third Party property including bodily injury and death to third parties caused by accident.

  • Linkage to launch online motor insurance

    Underwriting firm, Linkage Assurance Plc, has secured the nod of the National Insurance Commission (NAICOM) to distribute its motor insurance policies online through a robust technology platform that makes it more accessible to its customers anywhere in the country.

    But, the policy could also be bought by anyone outside Nigeria whose vehicle is in Nigeria.

    The firm’s Managing Director, Dr Pius Apere, during an interaction with reporters in Lagos, said the product is expected to drive more sales and boost the firm’s premium growth, adding that the launch date would be announced soon.

    He said the platform will enable customers to buy comprehensive motor insurance, Motor Third Party, Third Party Plus and Third Party Fire and theft policies online for fleet and single cars.

    Apere said: “This is a major breakthrough for us because we are committed to ensuring that we deliver seamless service such that our customers from the comfort of their homes or offices can buy insurance and get their certificates without a face to face contact with us. It is a result of hard work, dedication and most importantly commitment to deliver consumer value.

    “Linkage will continue to invest in technology, research and its people for more innovative products and services. Our customers are our priority and we will continue to meet their needs and expectation.”

    For Motor Comprehensive and Motor Third Party Plus covers, he explained that in addition to personal data and car details, customers are expected to upload picture of the car to be insured.

    He added that upon the payment for the policy with the use of credit or debit cards or Linkage scratch cards, which are exclusive and Third Party Plus, the customer would get his insurance certificate and policy document.

    This portal could be used by brokers and agents who registered with Linkage Assurance Plc, he said. Upon the launch of the platform, visitors to Linkage Assurance website could get to the motor insurance portal via the “online insurance” button on the site, he added.

     

  • Linkage, Niger Delta University partner on insurance talent

    LInkage Assurance Plc in collaboration with the Niger Delta University (NDU) has begun  moves to harness exceptional talents for the insurance industry.

    This is targeted at giving opportunities to students of insurance, actuarial and financial management as well as those in mathematics and engineering sciences to make career in insurance and actuarial.

    Linkage Assurance Plc Managing Director, Dr Pius Apere, who led management of the company on a career talk to the university community, said the industry is in serious need of actuarial professionals, more so that the sector is getting bigger with a lot of growth potentials.

    Apere, who was received by the Acting Vice Chancellor, Professor Samuel Edoumiekumo and the council members of the university at its main campus in Bayelsa State, underscored the commitment of Linkage Assurance to help exceptional students of the institution make career in the industry.

    Dr Pius Apere, who presented a paper  titled: Are You Fit To Be An Actuary,  said Linkage was instituting an award of N200,000 to the  best graduating student in insurance beginning from this academic session.

    Besides that, the company is also offering internship opportunity to 300 – 400 level students of insurance, and opportunity for absorption after graduation.

    According to him, Linkage plans to set up an Actuarial Unit in 2018, and best three candidates with Maths, Physics, Engineering or other strong quantitative degrees will be considered for immediate employment.

    Edoumiekumo thanked the company for the partnership, adding that his administration is committed to enhancing the relationship between the university and industries, in the different sectors of the economy, so that products of the university will have practical experience before they move into the labour market.

    Edoumiekumo expressed the determination of the university to provide the needed platforms that  will give students the opportunity to advance their career while still undergraduates, pointing that what Linkage has done was a long dream that has come true.

    Imo O. Imo, Head of Strategy of the company, explained the career opportunities in the industry to the university community, while urging the students to take advantage of this eye-opener to plan their career.

    He challenged them to start taking professional examinations while still in school, as that is the only way to make them competitive and candidates of choice in the labour market after graduation.

  • Linkage posts N4b premium income

    Linkage posts N4b premium income

    Linkage Assurance Plc has recorded a Gross Premium Income of N4.03 billion in its 2016 financial year from N3.78 billion in 2015, representing a six per cent growth.

    The firm also recorded a boost in its underwriting profit by 55 per cent to N701 million from N1.2 million.

    The 2015 dividend income from Stanbic IBTC Pension Limited that was not received during the year led to a drop of 36 per cent to N951 million from N1.4 billion in 2015.

    Also, its Profit before Tax grew marginally by 2 per cent to N544 million from N508 million in 2015.

    Speaking at the company’s 23rd Annual General Meeting (AGM) in Lagos, its Chairman, Dr. John Eseimokumoh, said the firm’s oil and gas business improved its gross premium income.

    He said the firm was positioning to take competitive advantage of the transformation and regulatory efforts of the National Insurance Commission (NAICOM) intended to deepen insurance penetration, and provide huge growth prospect for underwriting firms.

    He disclosed that the firm had embarked on a new phase of growth that guarantees greater returns on investment (ROI) for its teaming shareholders.

    He said this is coming from the strategic initiatives of the new management to navigate the organisation towards better performance and profitability even with the challenges of the current market environment.

    In addition, the company’s chairman said the company was introducing affordable retail products with superior value propositions to the insurance market via numerous business channels, especially online platforms, to increase insurance acceptability and improve perception by the teaming population.

    Managing Director, Dr. Pius Apere, told shareholders that this is a new era in the life of the company, assuring them that come next AGM shareholders would be glad they invested in Linkage.

    He said: “We have repositioned the company for growth and stronger returns on investment for shareholders, and this is evidenced in our half year 2017 performance, which is already in public domain.

    “We will continue to explore new growth opportunities in the economy to increase its market share; reengineered its operations for increased efficiency via state of the art business technology to drive productivity and empowerment of its workforce in its efforts to deepen insurance penetration in the economy.

  • Linkage offers survival for SMEs

    Underwriting firm, Linkage Assurance Plc, is committed to helping small and medium enterprises survive business challenges and grow into the future, its Managing Director, Dr. Pius Apere, has said.

    He made this known while speaking with newsmen in Lagos. According to him, the company through one of its newest products, ‘SMEComprehensive Insurance Plan’, provides financial protection to small and medium sized businesses against array of insurable risks in order to ensure their business continuity.

    SME comprehensive insurance, he said,  allows business owners to run their companies without having to worry about unexpected events that can slow them down or bring them to a complete halt.

    Apere said the cover provides for water damage from leaking pipes, money lost in transit, theft, fire incidence at warehouse, among other kinds of liabilities, stressing that these are liabilities that cannot always be anticipated. The company, he added, provides business owners the confidence they need to keep moving with the knowledge that their assets are covered from loss and other legal liabilities.

    He said: “The Plan is available with five different optional section and flexible enough to cater for the insurance needs of SMEs across diverse sectors of the market.

    “At Linkage, we understand that Nigerian SME businesses operate in a tough, rough and often fast changing harsh economic environment. SME businesses are still held to the same standards of corporate governance, employee welfare and liability as the larger companies and they often have to manage their risks with fewer resources and less time to spare on distresses other than those relating to day to day business.

    “SMEs, therefore, require an affordable, well packaged insurance policy, which will protect their assets, liabilities and employees from the risks associated with operating a business. Our comprehensive plan covers a wide spectrum of SME customers from a small single office premises for self-employed business owners to a multi-dimensional retail companies with a material damage/business interruption exposure spread across multiple locations.

    “The cover is for hotels, hospitals, water bottlers, publishers/printers, drycleaners, haulage, furniture, logistics and cottage manufacturers, among others.”

    Features of the plan listed include damage to buildings as a result of fire; theft of contents, with the following options to cover; occupier’s liability; personal accident for employees; professional indemnity and motor, including own goods.

  • Linkage inroduces new third party policy to address economic crunch

    Linkage Assurance Plc has introduced a new motor third party insurance policy where the insured’s vehicle is guaranteed a maximum of N250,000 cover.
    The company’s Managing Director, Pius Apere, who made this known to journalists in Lagos, said the new product is called the ‘Linkage Third Party Plus.’
    According to him, the product has been developed with Nigerians in mind, having realised that many may not have the fund to take comprehensive insurance for their vehicles at this time of economic recession.
    He stated that the company also aims to enhance the consumer benefits in motor third party insurance with additional protection for the insured’s vehicle.
    According to him, beyond taking care of third party damage, the cover guarantees the insured a maximum of N250,000.00 cover for his or her damaged vehicle, which hitherto is not covered in the compulsory third party insurance.
    The premium for the Linkage Third Party Plus policy is N10, 000.00 per annum, just an additional N5,000 to the ordinary third party cover.
    He said: “It covers all the benefits under the compulsory third party insurance such as third party property damage, bodily injury and death liabilities, plus the additional benefit of own damage protection.
    “Third party motor cover is a compulsory insurance policy under the 2003 Insurance Act for all vehicles plying the Nigerian roads against third party damage or loss. Premium is N5, 000.00 for cars and N7, 000.00 for commercial vehicles. This new product is an invaluable, budget friendly product for all Nigerians particularly in this period of economic recession. With Linkage ‘Third Party Plus’ you are able to get own damage cover up to N250,000.00 for just an additional N5,000.00 premium.

  • Linkage assures shareholders of dividends

    Linkage Assurance Plc has assured its shareholders of dividends payment going forward.
    It’s Managing Director, Dr Pius Apere, made this known while responding to shareholders’questions at the Company’s 22nd Annual General Meeting (AGM) in Lagos.
    Apere, who said bad days are over for the company, said its future looks bright given the result of its restructuring, which is beginning to impact on its overall performance.
    He said: “We have got to the end of the tunnel where dividend will start coming. The figures from our 2016 unaudited accounts, plus expected dividend from investment would put smiles on the faces of shareholders.
    “The company has strengthened its human capital with new heads of department, while its marketing team has been beefed up with top flight insurance marketers and the results coming are fantastic.
    “We have gone past the time when we measure our performance based on gross premium, we are now measuring based on bottom line. Going forward, there will be an improved communication between our company and the shareholders so that all of us will keep pace with developments in the company.
    Speaking on the firm’s 2015 results, Chairman of the Company, John Eseimohkumoh said its gross premium grew by 24 per cent from N3.05 billion in 2014 to N3.79 billion while net premium rose 25 per cent to close N2.44 billion at the end of 2015.
    He said investment and other incomes rose by 26 per cent from N1.19 billion in 2014 to N1.50 billion.
    “Profit before tax also grew by 60 per cent from N580.85 million in 2014 to N929 million, while profit before tax closed at N512.24 million, a growth of 58 per cent.
    “Going forward, we are confident that that in spite of the uncertainties in the economy, the future is still bright. In line with our strategic roadmap we will continue the repositioning strategy aimed at transforming the company through a set of definitive strategic initiatives as enunciated in our growth plan,” he added.