Anchor Insurance Company limited

Anchor Insurance Company Limited was registered in June, 1989 and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit. The Company, thereupon, commenced business in November of the same year. It started off operations from its registered office in Uyo, Akwa Ibom State and for strategic business reasons, Anchor Insurance Company Limited joined its fellow underwriting outfits in Lagos in April, 2008. Consequently, while the Company has its Victoria Island Office in Lagos as the Corporate Head Office, the Uyo Office remains its registered office. At the moment, the Company has expanded to not less than fourteen branch office network located at strategic cities across the country. The Company has constantly been showing strength in timely claims administration, superior customer experience delivery, product innovation and yearly bottom-line performance. Our audited accounts as at 31st December 2023 shows, amongst others, that we achieved a Gross Written Premium of N18.2bn from N13.2bn in 2022, representing a growth of 37.9% and an Insurance Revenue of N17.1bn, indicating a 35.7% achievement over the N12.6bn result of 2022. Our Shareholders’ Funds rose by 8.4% from N13.1bn recorded in 2022 to N14.4bn in 2023 while the Company’s Total Assets grew to N19.0bn from N18.6bn in the corresponding year of comparison. We paid out N2.9bn as claims to our genuine affected policyholders as against the N1.4b figure in 2022, demonstrating our ability to respond to any volume of legitimate claims requests received.