Industrial & General Insurance

General information

IGI - WHO WE ARE

IN THE BEGINNING

Industrial And General Insurance Plc (IGI) commenced business in 1992 as a composite insurer to transact the business of Life and General insurance, including Pensions and Special Risks. Backed by a strong capital base, first-class professionals and deployment of modern technology, the company quickly established a reputation for exceptional competence and became the preferred insurer for individual and corporate clients seeking premium insurance and related financial services.

MILESTONES

Within few years of its existence, the company recorded landmark achievements which underscored its high potentials as a market leader and frontline player in the nation’s insurance industry. IGI made history in 1996 – four years after it began operations – as the first private insurance company in Nigeria to post N1 billion premium income.

In 2004, the company consolidated its leadership position in the industry with a premium income in excess of N4 billion. This was the highest, at the time, by any private insurance company in Nigeria in terms of the volume of business.

INVESTMENTS

Until recently when it launched its strategic growth plan involving restructuring of assets, IGI has a wide and diversified investment interests in companies engaged in telecommunications services, mortgage banking, oil and engineering services, and healthcare delivery services, among others.

UNIQUE EXPERTISE

From inception, IGI demonstrated exceptional skill and expertise in the underwriting of specialised risks in oil and energy, marine, aviation, engineering and industrial risks management. The reputation earned the company national recognition in 1996 when it was appointed by the Federal Government as the leading member of a consortium of insurance companies to handle the insurance programme of the Nigerian National Petroleum Corporation (NNPC), the government-owned oil exploration and refining company. On account of its remarkable performance, the IGI-led consortium was reappointed for 1997 and 1998. IGI also participated actively in the insurance programmes of foreign oil companies operating in Nigeria.

PROUDLY AFRICAN

In 2005, IGI launched the African Expansion Programme which marked the beginning of the company’s foray into the African insurance market. This initiative led to the acquisition of 60% majority shareholding in the National Insurance Corporation (NIC), Uganda, after a competitive international bidding exercise. This groundbreaking feat was followed by similar investments in Sonarwa and The Gamstar, the largest insurance companies in Rwanda and the Gambia respectively, where IGI has the controlling shares.

Today, IGI operates an extensive branch network across Nigeria, with thriving subsidiaries in Uganda, Rwanda and The Gambia, as well as representative offices in the United Kingdom.

SOCIAL RESPONSIBILITY

The IGI Group has a rich tradition of good Corporate Citizenship deriving from the company’s consistent sponsorship and promotion of sports, support for government and non-governmental organisations, educational institutions. It also supports causes which promote the values of good citizenship, youth development and healthy living. As a corporate culture and policy, we always align our development and growth with our obligations to communities where we do business.