Staco Records N6.4bn Premium

Staco Records N6.4bn Premium

Staco Insurance Plc has said that its gross premium rose from N5.2bn in 2010 to N6.4bn in the 2011 financial period.

The Chairman, Mr. Dere Otubu, said this during the company’s 17th Annual General Meeting in Ijebu Ode, Ogun State on Thursday.

“Our company recorded a gross premium income of N.48bn in 2011 against N5.24bn in 2010.”

The Managing Director, Staco, Mr. Sakiru Oyefeso, said the company anchored its growth strategies on preservation of its vision and core values through its workforce strategy, service delivery and marketing strategy.

“We have always placed significant emphasis on our people by investing in learning and growth development programmes, which are aimed at improving the quality of professionals within the company,” he said.

As part of its professional development strategy, the firm said that four of its employees were sent to the West African Insurance Institute in the Gambia for a professional diploma programme in insurance during the year under review.

It added that not fewer than 15 members of staff were sent to WAII in Lagos for the certificate in insurance programme .

Staco, according to Oyefeso, strives toward the delivery of quality and exceptional customer service to gain competitive edge.

He said Staco would continue to improve its internal process towards meeting set standards within the industry.

This, the managing director said, would be achieved through courteous staff, innovation and reliance on the Information Communication Technology to deliver prompt and efficient service delivery.

The company’s marketing strategy, he added, was directed at enhancing product offerings, excellent operations and fulfilling customers’ financial needs.

He said this was in alignment of its workforce strategy with the marketing strategy by effectively filling identified talent gap in the organisation to meet its goal for the year.

The managing director said market expansion through branch network played a vital role in bringing insurance to the doorstep of the insuring public.


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