Capital Express records N2.8b premium
Capital Express Assurance Limited recorded about N2.8 billion premium in the 2012 financial year, its Chairman, Otunba Babatunde Adenuga, has said
Adenuga, who stated this during the firm’s 12th Annual General Meeting held in Lagos over the weekend, said the firm achieved 79 per cent growth in investment income in the financial period under review despite the harsh economic environment.
He assured that the 2013 financial year would be better in terms of premium drive and increased performance.
He said: “Capital Express has been strategically positioned to face the challenges of the new year and respond to the ever changing economic environment.
“A series of deliberate actions necessary to turn around the fortunes of its foreign subsidiaries and reposition them for better performance will be a key part of its strategic thrust in the coming year. 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.”
The chairman also said the former group managing director and chief executive officer of the firm, Mr. Anthony Aletor retired in 2012 but remained on the board as a non-executive director.
He said to ensure the firm continues to benefit from his wealth of experience, the board resolved and created the position of vice chairman and appointed Aletor to this role.
He noted that he was to assist the board in its oversight functions and support the managementin in this capacity.
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