On Thursday, Wapic Assurance Plc became the first insurance company in Nigeria to announce the refund of insurance premiums for motor vehicle insurers. In an effort to alleviate the hardship caused by the Covid-19 lockdown.
“The refund will automatically be credited to customers with active policies at the end of the lockdown period” Wapic Insurance Plc is passing the benefit of reduced motor insurance claims during this period onto our existing policy holders the press release said.
“This act of empathy is made in line with Wapic’s understanding that most drivers are stuck at home and unable to drive their motor vehicles in line with the Covid-19 pandemic stay at home policy” the underwriters said in a press release made available to the Nigeria Stock Exchange (NSE) and the investing public.
Wapic’s outgoing Chairman Mr Aigboje Aig-Imoukhuede advised, “We know that our customers are experiencing unprecedented circumstances, and many are struggling to cope. We want to recognise the sacrifice you are making by driving significantly less as you support our country’s objectives in flattening the curve of the pandemic. We want our customers to know they can be rest assured that we will defeat this pandemic together.”
Beyond financial and other contributions the company is making to fight the Covid-19 pandemic, Wapic is serious about supporting its customers particularly the most vulnerable, during this difficult time. The insurer takes pride in always putting customers first and continually improving its services to deliver a unique and excellent customer experience.
Wapic Insurance Plc is engaged in the business of underwriting life and non-life insurance risks for corporate and individual customers, and also provides investment risk products for individuals. The Company’s range of insurance services includes, motor, general accident, fire, engineering, special risk, marine and group life insurance for the risk management of businesses and individuals.
The Company’s General Business is conducted by Wapic Insurance Plc and Wapic Insurance Ghana Limited. The Company’s Life Business is conducted by Wapic Life Assurance Limited.
In addition Wapic Assurance is a listed company on the Nigeria Stock Exchange, with NSE-Ticker – WAPIC. It has 23,991,679,506 outstanding shares with N6,477,753,466.62 market capitalization. It is currently trading at N0.27 on the floor of exchange.
Written by:
Ifunanya Ikueze
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