Oasis Insurance pays out N494.5 million on claims

 General Insurance specialist, Oasis Insurance plc has disclosed that it settled N494.5 million claims in various classes of insurance in the 2012 financial year. The company incurred claims to the tune of N494, 576,954.95 in Motor, Fire, Marine, Engineering and General Accident Insurance.

According to the Managing Director of Oasis Insurance plc, Babatunde Oshadiya, the company will continue to discharge its duties to the insuring public and not relent in its singular most important culture of prompt claims settlement.

“For the year 2012, the company settled claims worth over N494 million and the analysis of the claims paid shows that N110, 486,729.20 was paid in Motor insurance while General Accident gulped N154, 135,016.79.

Under the fire class, N135, 706,209.22 was paid while N29, 228,965.47 and N23, 747,134.41 were paid in Engineering and Marine insurance respectively. The company also paid N41, 272,899.86 under Aviation and Oil & Gas,” he explained.

Oshadiya asserted that Oasis Insurance will match excellent service with prompt claims settlement to meet the expectations of the insuring public and as well gain total acceptance for all the company’s products.