IGI
Insurance

IGI Assures Stakeholders Of Brighter Future Amidst Challenges

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OLADELE OGUNTIMEHIN 

Industrial and General Insurance Plc (IGI) has assured its shareholders and workers of a brighter future as it navigates through challenges.

The management in a statement noted that it is overburdened by a bogus wage bill arising from a defective human capital deployment, which it promised to halt in the efforts to return to its enviable heights. .

“Board of Directors has launched a strategic and holistic turnaround programme early this year under a new management with a view to putting a sustainable halt to the company’s declining fortunes and restore it on the part of growth”.

“The company has been overburdened over the years but this was no longer sustainable under the very difficult circumstance IGI found itself, and the inexorable imperative was to undertake a proper review and adjustment of costs across board. This exercise prompted some tough decisions that are critical success factors.

The management assured of its relentless efforts to meet the recapitalisation deadline of the National Insurance Commission (NAICOM) and which “We are optimistic of eventual outcome and are encouraged by the level of our progress so far on the turnaround initiative”. 
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BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.

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