Lagos, Apr 20, 2010 (Daily Champion/All Africa Global Media via COMTEX) -- Niger Insurance Plc, a leading indigenous firm says it paid N1 billion claims to its customers who suffered some losses in 2009. This represents an increase of 15 per cent over the figure paid in 2008.

Announcing this at a news briefing in Lagos last weekend , the Managing director, Mr. Justus Uranta disclosed that the company generated a premium income of over N6.6 billion, representing an increase of 25 per cent compared to the figure netted in 2008.

Also, its underwriting profit rose from N2.4 billion in 2008 to N3.4 in 2009, indicating a difference of over 40 per cent.

Consequently, Mr. Uranta said the management has reason to its chest as it had continued to sustain customers confidence over the years despite certain operational constraint confronting it.

He declared; " The company was able to achieve the feat in spite of the global meltdown, which has reduced the company's financial earnings globally, In spite of the global financial meltdown last year, Niger Insurance successfully maintained cost operations of risk bearing and claims"

On manpower and training, the Niger insurance boss said the company could presently boost of well qualified and seasoned professionals who are willing to go extra mile to exceed customer's expectations. This is even as he hinted that 15 of its staff passed the Chartered Insurance Institute of Insurance (CIIN) qualifying examinations held last year.

The managing director said the company is currently going through a corporate transformation and re-engineering, tagged "Niger Enterprise Strategy Transformation (NEST).

He explained that the key elements of NEST were networking through strategic partnership and having global competitive outlook.

He said the transformation process was reflected in its new vision which is to become the insurance company of first choice Nigeria by 2012 , noted for high level transparency, efficiency, capacity, and superlative customer service.

Mr. Uranta assured that its customers would soon be opportuned to communicate and relate with the company on line real-time through its recently acquired modern platform.

Uranta said the company had repackaged its travel insurance partnership with a Spanish Company, MapFre/Asistencia.

He said the company's travel insurance was now valid for use in any Schengen country