Afriglobal unveils new identity, looks beyond Nigeria for business
Afriglobal Insurance Brokers Limited formerly Afribank Insurance Brokers, Mainstreet Insurance Brokers and lately SkyBank Insurance Brokers has unveiled a new identity and vision that would make it a global insurance broker, offering services within and outside Nigeria.
The company, which prides itself as number five insurance broking firm in Nigeria, says it has what it takes to compete with any broker within and outside Nigeria.
Casmir Azubike, managing director/CEO of Afriglobal who spoke during an interview at the unveiling of the company at its corporate head office along Gbagada Oshodi Expressway in Lagos said it has with it over 30 years experience as a broking company, having acquired skills and competences to deliver exceptional insurance and risk management services.
On the company’s new vision he said “our vision is very wide having seen it all from three different banks. In the past, we tried to run but had some restrictions, but today those restrictions are gone and we are now ready to run and very freely”.
“Our mission therefore is to run a very strong insurance broking company that will stand tops in the country, and effectively play in the international market.”
Azubuike said the company is capitalised well over and above the minimum statutory capital required with an asset base also among the highest in the insurance broking industry; and armed with professional indemnity insurance almost 100 percent higher than the prescribed limit
He observed that insurance business in Nigeria grown and has the capacity to pay huge claims on like what obtained in the past when underwriters’ capital was inadequate. “I can confirm to you that the industry has come of age and have the capacity to sustain and help businesses and the economy to grow”.
“We operated with the Afribank brand for about 20 years under the parentship of Afribank and when Afribank became Mainstreet Bank in 2011, our company name was changed to Mainstreet Bank Insurance Brokers Co. Ltd, to reflect our new ownership.
When Skye Bank acquired Mainstreet Bank in 2014, we came as new owners of the compny”
“In compliance with the CBN directive to Banks in Nigeria, to either operate a holding structure or divest from their subsidiaries, Skye Bank commenced divestment exercise from all her subsidiaries in May 2016.”
And having accomplished the acquisition requirements and processes, it became necessary that we drop the name – Mainstreet Bank Insurance Brokers Co. Ltd and take a new name that would depict our total independence and new vision
“Our painstaking efforts paid off, as we succeeded in securing partners who share our vision of an insurance broking company of international standard that can play prominence both at local and international levels.
He said the positive implication of this, is that the company is moving into the new company with the same people, better experienced, very competent in our field of business and professionally qualified.
“Our human capital hence, is our greatest asset and so we can therefore assertively declare that that we still remain champions in the provision of quality risk advisory and intermediation services to the insuring public.”
Segun Farimu who represented the commissioner for Insurance said sky is the limit of the company, urging it to model its character and relationship with all stakeholders to bring the positive side of the new identity.
Modestus Anaesoronye