With substantial cleansing of its books of doubtful receivables and assets, as well as regularisation of its status with regulatory authority, the Managing Director, Great Nigeria Insurance (GNI), Mrs Cecilia Osipitan,

has disclosed that the company is now hopeful of brighter future, with the ability to give more bonuses to the shareholders and satisfy its customers.

Mrs Osipitan said that the company’s ambition in 2012 would be the delivery of superior underwriting service to the Nigerian insurance public, as well as reaching out to the uninsured.

She said, “We shall vigorously pursue market share enlargement backed by value-based cost optimisation. In 2012 and beyond, we will continue to drive human capital skill development, provide cutting edge technology, upgrade services delivery and sustain good corporate government practice.

“The continuous dynamic global changes was not lost on us, we will continue to ensure continuous reviews and restrategising of our activities. Our commitment to excellent service delivery and our focused strides towards profitability remain unchanged,” she said

While appealing for the understanding of the company’s shareholders and partnership in the task of building a virile and prosperous company, Mrs Osipitan said that the company was positioned to reclaim its position as a topmost underwriting firm in the league of Nigeria insurance companies.

According to her, the company would key into the compulsory insurance initiative of the National Insurance Commission (NAICOM) geared towards increasing insurance awareness in Nigeria through Market Development Restructuring Initiative (MDRI).

The products under the NAICOM initiative include occupier liability insurance, builder liability, healthcare professional insurance and group life assurance scheme. Mrs Osipitan noted that the company would embrace these products and vigorously pursue them through creation of awareness to grow

She, however, lamented the passage into law of the Employees Compensation Act by the National Assembly, which replaced the Workmen Compensation class of insurance, as she described the impact of the passage on insurance sector as a significant erosion of another revenue channel for the industry.