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Oasis Insurance Settles N494.5m Claims

Oasis Insurance Plc, one of the non-life risks underwriting companies in the country, has settled N494.5 million claims to various customers in the last financial year ended December 31, 2012.

The Managing Director of the company, Mr. Babatunde Oshadiya assured that the firm would continue to discharge its duties to its customers without relenting on prompt claims settlement.
According to him, the claims settled were in respect, motor, fire, marine, engineering and general accident insurance businesses respectively.
“For the year 2012, the company settled claims worth over N494 million and the analysis of the claims paid shows that N110.49 million was paid in motor insurance while general accident gulped N154.12 million.
The company’s boss also said that Oasis would match its excellent service with prompt claims settlement in order to meet the expectations of its customers on its way to gaining customers’ confidence in the company’s products and services.
Meanwhile, the Marketing Director of the company, Mr. Olatunde Balogun, said Oasis Insurance has set in motion strategies to move the company forward and improve on its profitability going forward.
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