24 Feb, 2024
1 min read

Staco Insurance woos brokers

The Managing Director, Staco Insurance Plc, Mr Wale Banmore, has said the new management of the underwriting firm has competence and seeks the support of the insurance brokers.

A statement said he spoke at the October 2022 edition of the annual general meeting of the Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers.

While seeking the brokers support, he said great attention had been paid to settlement of all outstanding claims by the company, a situation that was turning around its fortune positively and rapidly.

“Insurance brokers constitute a critical chunk of the customer base of all underwriting companies in Nigeria, no underwriter could excel without their support,” he said.

The President, NCRIB, Mr Rotimi Edu, said the noticeable turnaround in the company under the new management led by Mr Wale Banmore was enough credibility to attract brokers again to the company.

He noted that it was the characteristic of organizations to have a crisis, but what mattered was the resolve to put in place strategies for quick and strong recovery.

According to him, Staco was a solid underwriting firm which had human capital, rather than technical issues, and that with the new leadership, the confidence level of clients was moving northwards for the company again.

He stated that the volume of businesses being underwritten by the company in the little space of time of the revalidation of its operational license spoke volume of the goodwill and confidence in the new board and management.

Also speaking, Mrs Bimbo Onakomaiya, another foremost insurance broker extolled the virtues of Banmore.

She described him as a humble, diligent and astute underwriter, whose track records of customer sensitivity in his previous positions in the industry, trailed him everywhere and would stand him in good stead on his now

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