Mofes Insurance Brokers set to lead the pack

By Sulaimon Olanrewaju

Mofes Insurance Brokers Limited has reiterated its decision to become the industry leader in the current year.

During a chat with the Nigerian Tribune, Dr. Festus Epetimehin, the company Chairman, said with all the strategies mapped out by the company, nothing would stop it from climbing to the top of the ladder.

“Mofes is blessed with seasoned and committed people who know their onions. Our operation is ICT-driven. We go the extra mile for our clients, we know the market very well and we are trusted both by underwriters and the insuring public. So, all is set for us to take over”, Epetimehin said.

Epetimehin, former Managing Director of Worldwide Insurance Company Limited, said there was need for further penetration of the country by insurance practitioners because just a few people in the country had the culture of insurance.

“We intend to raise the consciousness of insurance in the country. We know that many of our compatriots will embrace insurance if they are convinced that they would be compensated in the event of a loss. So, we go about telling people that the insurance industry is much better now and we encourage many people to insure teir valuables. For us, this is not just about business, it is a crusade. We want to ensure that no business goes under just because of a loss. We want to ensure that no child stops schooling because of the death of a parent. That is our mission”, he said.

The chairman said that the organisation, apart from being purpose-driven and customer-focused, would continue to conduct its businesses in a fair and professional manner to the satisfaction of its clients and admiration of all stakeholders.

“That is part of our corporate objectives”, he said. “We will also seek to stay ahead of the industry standards by deploying the best of human capital resources and state of the art ICT solutions in our service delivery.”

Another corporate objective of the company, Epetimehin said, is effective and efficient management of its human and material resources.

Epetimehin disclosed that the company catered for both individuals and corporate organisations’ interests.

“If it is insurance brokerage, we are the ones to talk to”, he said. “We cover all aspects of insurance brokerage. No one is too small for us, neither is any account too big for us to handle. We tailor our services to the specific needs of our clients. From life to general business, marine to oil and gas, motor insurance to fire and burglary, clients can rely on us.”

He added that the company is not just a brokerage firm, but also a consulting outfit which enlightens the clients on what insurance policies will meet their yearnings.

“We do not just serve as intermediaries; we actually consult for our clients. We advise them. We advise them on which insurance policy is good for what they have in mind to insure as well as which insurance company can serve their interest best.

Mofes has its corporate headquarters in Ibadan. It has another control office in Ibadan as well as link offices in the United States of America and the United Kingdom.

Investors await insurance public offer

Oladele Ayeleso, Lagos

There are indications that the next round of public offers from the Nigerian insurance sub sector of the nation’s economy will witness great patronage as many investors are waiting quietly with great expectation for the companies to announce the opening of their public offer so they may grab.

Nigerian Tribune discovered that financial analysts and stock brokers have started advising their clients to keep buying insurance stocks, even at the secondary markets, which was contrary to what was obtainable in the sector in the past years.

There is no doubt that many of these insurance companies will soon bombard the market to raise more fresh funds just like what the banks did shortly after their consolidation exercise.

It will be recalled that shortly after the release of the last list of 49 insurance companies that had successfully recapitalised in accordance with the National Insurance Commission’s (NAICOM) rule, the sector, on the Nigerian Stock Exchange (NSE) market witnessed an increase in volume daily traded on its floor.

Experts at that moment attributed the changes witnessed to the confidence that investors reposed in the Nigerian insurance industry. Most operators have shown interest in raising more funds from the market.