Sovereign Trust Insurance Appreciates Customers, Shareholders

Ebere Nwoji

The management of Sovereign Trust Insurance Plc has said the company has reasons to appreciate its shareholders, stakeholders and customers for their commitment, support and patronage in the past 27 years of operation in the Nigerian insurance market.

The company stated this while announcing plans to hold its 2021 Annual General Meeting.

Head , Corporate   Communications   and  Investor   Relations   of the company, Segun Bankole said the meeting this year, would hold in Lagos. 

He said this followed the approval of the 2021 annual report of the company by the industry regulator the National Insurance Commission (NAICOM) and Nigeria Stock exchange.

Olusegun said in line with the federal government and Lagos State directives
on restriction of gatherings of large number in curbing the spread of the
COVID-19 pandemic, majority of the shareholders would be participating online via a link on the company’s website with the exception of the approved Proxies of the shareholders. 

Speaking on the result of the company for the year under review, Bankole said Sovereign Trust   no   doubt   showed   great   resilience   amidst   the   various challenges that characterised the operating environment in year 2021. 

He said there was every reason to be appreciative to all the shareholders and customers of the company who had shown great level of commitment and patronage since inception 27 years ago.

“Amidst   the   challenges   of  2021,   the   company   ended   the  financial    year under   review  with  a  great  sense  of   optimism  that  the  days  ahead will continue to look brighter and better”. “Despite   the   wavering   business   environment   in   2021,   the   Company recorded   Gross   Premium   Written of   N12.7billion   over   N11.1billion recorded   in   2020   representing   a   14.4 percent   increase.   The   Net   Premium Income  equally  grew by  11.2 percent  from the  sum  of  N6.5billion in  2020, ”he stated.