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Mutual Benefits, others bag African insurers’ awards

By on June 9, 2015

mutual Benefits Assurance Plc has been named the best innovative insurance company in Africa by the African Insurers Organisation.

Two other African insurance companies were nominated for the same award at the 42nd AIO summit, which took place in Tunis, Tunisia recently.

Two other Nigerian companies also got a nomination each out of a total of nine nominations in the AIO award event sponsored by African Reinsurance Corporation.

The three winners in each of the categories got a cash prize of $25,000.

Custodian and Allied Insurance was nominated for the best chief executive officer award, while Mansard Insurance got nominated for insurance company of the year award. Misr Insurance Company, Egypt won the insurance company of the year award while Jubilee Insurance, Kenya, won the CEO award.

The Group Managing Director, Africa Re, Mr. Corneille Karekezi, said the firm established the award to foster the development of insurance in Africa by honouring distinguished companies and leaders of insurance companies with exceptional standards of competence and achievement.

“The companies and leaders should demonstrate unprecedented insurance industry leadership by stimulating distinctive innovations, sustainable premium growth and business profitability.

He added that the companies must also promote best corporate management leadership and governance in the African insurance industry.

The Group Managing Director, Mutual Benefits Assurance, Mr. Akin Ogunbiyi, noted that the company had been able to record the huge achievement through the commitment and dedication of its employees and a vibrant board.