This surplus amount was announced on Tuesday, June 21, 2022, during the Surplus Distribution event held at the Radisson Blu Hotel, Ikeja, Lagos, and well attended by the participant , Insurance Industry stakeholders, Brokers, Agents as well as the media.
Bakare described the distribution as an affirmation of the efficacy of offering modern financial services to Nigerians who were previously excluded from the formal economy, stating that this would help them achieve reasonable economic stability in their lives and businesses. He then commended the regulator, NAICOM, for providing the right kind of oversight required to deepen, grow, and sustain the industry stating that their diligent approval processes, especially their insistence on prudence, probity, and best practice, have continued to help the company
In her remarks, the Managing Director, Lotus Capital Limited, Hajara Adeola, stated that Takaful insurance, a non-interest finance, remains the best alternative insurance for the generality of Nigerians as it helps to promote financial inclusion. “Non-interest finance such as Takaful insurance is a positive force spreading across the globe, empowering people, communities and building cities. It is a financial model that is simple, elegant, and emphasizes justice, fairness, and transparency,” she added.
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