Wednesday, January 30, 2013
The Group Managing Director, Mutual Benefits Assurance Plc, Mr. Akin Ogunbiyi, has expressed the need for the government to take more proactive measures to protect the economy against crisis as done by developed countries.
Ogunbiyi gave the advice during the company�s annual thanksgiving service in Lagos.
�Considering the global economic crisis that has ravaged everywhere, the Nigerian government should take a cue in making conscious efforts and formulating policies to help in reverting the declining trend of the national economy like the developed economies are doing,� he said.
Ogunbiyi said insurance was the bedrock of any economy.
According to him, insurance is an avenue where long-term funds can be pulled together for investment.
While speaking on Mutual Benefits, performance, he said the firm�s approach to growing the business had actually assisted it in moving the company forward.
The Mutual Benefits boss said the firm, especially its life arm, had over 40 products that were investment linked, and afforded the people the opportunity to save money.
He said the company was able to invest in other sectors of the economy.
�Our investment in transportation in Lagos State alone created over a thousand jobs. We employed many graduate and HND holders,� Ogunbiyi said.
He explained that this was part of efforts aimed at using insurance as a value creation instrument.
While speaking on the global objectives of Mutual Benefits, he said one clear objective was to internationalise operations by taking the firm beyond the shores of the country.
He said, �That was what led us to opening office in Liberia. Liberia operations are very successful to the glory of God; in Cameroun, we have our operations, we are exploring the possibility of opening insurance operations in Niger Republic, and we are quite happy with the kind of reception the government gave us,� the GMD said.
Ogunbiyi said the company was not just taking risks but calculated risks based on strategic planning and credible partnerships.
Ogunbiyi gave the advice during the company�s annual thanksgiving service in Lagos.
�Considering the global economic crisis that has ravaged everywhere, the Nigerian government should take a cue in making conscious efforts and formulating policies to help in reverting the declining trend of the national economy like the developed economies are doing,� he said.
Ogunbiyi said insurance was the bedrock of any economy.
According to him, insurance is an avenue where long-term funds can be pulled together for investment.
While speaking on Mutual Benefits, performance, he said the firm�s approach to growing the business had actually assisted it in moving the company forward.
The Mutual Benefits boss said the firm, especially its life arm, had over 40 products that were investment linked, and afforded the people the opportunity to save money.
He said the company was able to invest in other sectors of the economy.
�Our investment in transportation in Lagos State alone created over a thousand jobs. We employed many graduate and HND holders,� Ogunbiyi said.
He explained that this was part of efforts aimed at using insurance as a value creation instrument.
While speaking on the global objectives of Mutual Benefits, he said one clear objective was to internationalise operations by taking the firm beyond the shores of the country.
He said, �That was what led us to opening office in Liberia. Liberia operations are very successful to the glory of God; in Cameroun, we have our operations, we are exploring the possibility of opening insurance operations in Niger Republic, and we are quite happy with the kind of reception the government gave us,� the GMD said.
Ogunbiyi said the company was not just taking risks but calculated risks based on strategic planning and credible partnerships.
