The Executive Vice Chairman of Industrial And General Insurance Plc, Mr. Remi Olowude, has described year 2008 as a year of accomplishments for the company.

He made the declaration on Friday at the company’s Group Staff Party which took place at the Shell Nigeria Hall of Muson Centre in Lagos.

“2008 was our first full year as a public limited liability company (Plc) and it was a year in which we accomplished very big things at IGI Plc,” Olowude told a gathering of more than 600 staff and guests that included customers, brokers, bankers and other corporate partners, adding, “This is the reason we still remain strongly positioned as the nation’s leading insurance company in terms of profitability, balance sheet growth, products portfolio, brand visibility, workforce, efficiency and corporate strength.”

He explained that the company recorded a number of landmarks outside the shores of Nigeria in the course of 2008, saying: “Our Africa Expansion Programme gathered a lot of steam that has left our competitors gasping for breath.”

According to him, IGI Plc consolidated its management of the National Insurance Corporation, Uganda and made a strong corporate statement in Rwanda with the acquisition of 35% shareholding in Societe Nouvelle d’Assurance du Rwanda (SONARWA), the biggest insurance company in the country. He said that IGI’s presence in Ghana and The Gambia has also changed the face of insurance practice in the two countries.

He underscored the fact that IGI became Nigeria’s first insurance company to own a bank with the launch of Global Trust Bank Ltd in Uganda, which was licensed by the Bank of Uganda and commenced commercial operation in November 2008.

Olowude described the licensing of IGI Pension Fund Managers Ltd by PENCOM in 2008 as a welcome development, stressing: “This has once more reinforced the mission of our company’s leadership to provide the highest standard of financial protection to our customers.”

“We are still expanding and assessing other acquisition opportunities in the continent,” he said, adding, “Our primary goal in 2009 will be to consolidate our leadership in every aspect of our businesses within and outside Nigeria.”

Olowude enjoined staff to work harder and smarter and as a formidable team, stressing that Management will create an enabling environment for creativity and enhanced productivity.