Sovereign Trust Insurance Plc is set to bring qualitative and affordable insurance services to the people of Ekiti State as it plans to extend its branch network to every local government area in the state.
This was made known during the courtesy visit of the Managing Director, Mr. Wale Onaolapo to the State governor, Engr. Segun Oni. The Managing Director in his address thanked the Governor and people of Ekiti State for the support and reception that have been extended to the company in the state. He emphasized the need for government-private participation as requisite for rapid economic and social development.
Onaolapo commended the state’s Government planned initiative of appointing a consortium of insurance companies to underwrite all the major capital projects in the state. He enjoined the governor to take advantage of Sovereign Trust leadership position in the oil and gas sector of the insurance market as the company have been the major underwriters for most of the significant oil and gas companies in Nigeria. In his words, “we have the competence and experience of our versatile professionals to rely upon when we take up the task of underwriting your capital projects in Ekiti state”.
The Managing Director also implored the Governor to ensure that the Government and citizenry take advantage of the company’s initial public offering coming up shortly as that would help consolidate the shareholding stake of the government and people of Ekiti state in Sovereign Trust Insurance plc.
In his closing remark, Mr. Wale Onaolapo promised that the company will do all it can to promote the infrastructural development in the state through concerted corporate social responsibility initiatives from time to time.
In his response, the governor, Engr. Segun Oni thanked the Managing Director and his team on their visit to the state. “I am deeply touched by the intentions of your visit to the state and I must commend your business acumen for considering the state as an economically viable entity worthy of partnering.”
The governor also assured the team that every necessary assistance and support will be given to the company as far as the state and the people are concerned.
Sovereign Trust Insurance Plc commenced business in 1995 as a limited liability company and is today listed on the Nigerian Stock Exchange. It is one of the fastest growing insurance companies in Nigeria and the West African sub-region.