Royal Exchange Plc has said it is now positioned to offer shareholders good investment return and increase market share of the industry through the adoption of technology in operations.
According to the company, it is determined to take advantage of growth initiatives available in the industry, while leveraging technology to expand its revenue base and stronger bottom-line.
The Chairman, Royal Exchange, Kenny Ezeanwani Odogwu, who disclosed this during the company’s 49th Annual General Meeting in Lagos, said the company would continued to stay abreast with many of the initiatives mentioned above in our quest to grow market share and attain market leadership position.”
Odogwu said the group is presently streamlining major components of her businesses, service delivery, processes and operations to deliver superior returns in the medium term to our shareholders through a digital transformation process we embarked upon recently.
“This we believe will reposition our great company as not only a major industry player but as a potential game changer. To sum it up, your board is confident about the future of our company irrespective of the current challenges besetting the company in the short term,” said.
On the company’s agricultural insurance initiatives, he said “we are looking at ensuring our partnerships with government agencies, such as NIRSAL, as well as deepening our working relationships with relevant state governments and groups across the country to ensure we take full advantage of the opportunities that arise in the agriculture space.”
“Agriculture and retail insurance, we believe is the future of insurance and at Royal Exchange, we will continue to develop products and services to ensure that we remain relevant in this space,” he added.
The Group Managing Director/Chief Executive Officer of the company, Alhaji Auwalu Muktari, said the board and management has very high expectation for 2018.
“We remain resolute to bring in our best to the table even though various analysts’ expectations for economic growth remain modest. The focus would be on achieving long-term sustainable growth for our company through the deepening of our revenue base, improving service delivery support systems and at same time keeping a lid on our group-wide costs.