STI pays N1.91b claims half year

Sovereign Trust Insurance (STI) Plc paid N1.91 billion claims to policyholders in half-year 2024, a feat which showed commitment to customer satisfaction evident by prompt claims resolution.

The Managing Director/CEO of the firm, Olaotan Soyinka, said their commitment to satisfying customers remained unshakeable.

“We understand the importance of swift claims resolution and are proud to provide financial support when our customers need it the most, especially in this trying period when a lot of the insured see insurance as the last resort of succour when the unplanned happens,’’ he said.STI Head of Corporate Communications and Investor Relations, Segun Bankole, who made this known in a statement, said the payment showcased the company’s dedication to serving customers with efficiency and reliability.According to him, the payment covered 1455 claims across various policies.He said: “The summary of the claims paid report in the first half shows that fire policies have the highest figure of N931million with motor claims ranking second with N416million, general accident N254million, marine and aviation N218million, engineering N65million followed by oil and gas claims N9.6million and energy N584,000.

“The underwriting firm did not only pay the claims, but also made regular follow-up calls to ensure the customers were left satisfied.’’

The beneficiaries praised the underwriting firm for the timely and professional manner it treated them, it added.

STI pays N1.91b claims half year - The Nation Newspaper (thenationonlineng.net)