Who we are: About Anchor Insurance
Anchor Insurance Company Limited was registered and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit and started business in November of the same year.
The Company commenced operations at its registered office in Uyo, Akwa Ibom State and later, for business reasons, joined its fellow underwriting outfits in Lagos. While it has its Victoria Island office in Lagos as its Corporate Head Office, its Uyo office remains its registered office. At the moment, Anchor Insurance Company Limited has expanded to not less than nineteen branch office network located at strategic cities across the country.
The Company has constantly been showing strength and innovation in product and customer service delivery, yearly bottom line performance and timely claims administration. The company’s audited accounts for year ended 31st December, 2018 shows a gross written premium of N3.4bn from N2.2bn written in 2017, total assets standing at N6.6bn, shareholders’ funds amounting to N5.2bn and solvency margin of N5.1bn.
As a general business insurer, this solvency status as assessed by the National Insurance Commission (NAICOM) placed Anchor Insurance Company Limited in Tier 2 category of the Tier-Based Minimum Solvency Capital (TBMSC) policy (now suspended) for insurance companies in Nigeria. Not comfortable with the Tier 2 status which the organisation’s current solvency margin has put it, the Board of Directors responded with a deliberate decision to place the company on the TBMSC Tier 1 list.
Though NAICOM has suspended the implementation of the TBMSC policy, the Directors are resolute on their decision as the assigned Company’s financial consultants are currently working to achieve this feat within the deadline set by the Board.
The Board of the Company is composed of accomplished turn-around professionals from different business fields whose experiences have continued to ensure the organization consistently puts its foot forward. The Management team which is headed by a young professional and reference item in the Nigerian insurance business space comprises intelligent and result-thirsting professionals from different lines whose passion for getting things right at first attempt has stood the Company out as a ‘movement’ in the nation’s risk-bearing sector.
The Anchor Insurance Company’s promise is "All stakeholders will surely enjoy a pleasant experience".
To be the most innovative and preferred provider of General and Special Risks Insurance Services in Nigeria.
To institutionalize the Anchor brand as a world-class security Company, providing superior, efficient and dynamic insurance services anchored on state-of-the-art technology, accountable and well motivated staff to meet the expectations of our stakeholders.
The new Anchor Insurance Company Limited sees her customers and clients as reason they are in business which makes customer satisfaction a priority in the company. The Anchor Insurance Company’s promise is “All stakeholders will surely enjoy a pleasant experience”.