Yemisi Izuora
NEM Insurance plc said it is repositioning its activities to enable it tap into the oil and gas sector of the economy and boost its resources.
It said it is already deploying resources to build capacity in that segment of business.
The company, which has found growth balance in its other product lines including motor business, accident, fire and other allied risks says it’s determined to increase its retention capacity in oil and gas business.
Tope Smart, group managing director/CEO of the Company who made the disclosure said NEM has positioned for the future.
Smart said, “I think the industry has moved from where it was five years ago, and there are a lot of potentials in the industry. The level of confidence has risen and to that extent, so many people now believe in insurance.”
“You will agree with me that the industry has improved by way of response; response to some of the big claims which is in billions of naira that happened in the last five years.
And that gives a kind of confidence in the insuring public”.
NEM, he noted is evolving and its focus is to be one of the top three insurance companies in Nigeria.
According to him, We have re-engineered our operation and we will continue to do that and we have tried to differentiate our brand from others through our attitude, our character and all these combined together have differentiated us from other brands in the market.”
