FINSURANCE COMPANY

FINSURANCE COMPANY

FIN Insurance Company Limited (formerly, Yankari Company Limited) was incorporated on 24th April, 1981 as a limited liability company wholly owned by the Bauchi State Government. It was registered as a licensed insurer in 1982, and commenced business on the 1st January, 1983.

The company was then acquired by Finbank Plc and had its name changed to Fin Insurance Co. Ltd in 2008. In 2012, Finbank was taken-over by First City Monument Bank (FCMB) while FIN Insurance subsequently became a member of the FCMB Group. In a bid to transform the company’s operations, Fin Insurance was acquired by Cornerstone Insurance Plc (with Capital Alliance Private Equity III Limited) in 2014.

This move was ratified and approved by National Insurance Commission (NAICOM) in 2015; thereby making the company a subsidiary of the Cornerstone Group. As at December 31, 2015, the company recorded a gross premium income of N757million with the total Assets in excess of N6 Billion. The company Authorized Share Capital was increased in 2009 to N5 Billion ordinary shares of N1.00 each.

The company is currently capitalized beyond the compliance requirements of the Investment and Securities Act 1999 and the Insurance Act 2005 with N3.3 Billion paid up share capital. With over fifteen (15) branches nationwide and its head office located at 34 Gana Street, Maitama, Abuja, FIN Insurance has grown to become a strong, reliable and trustworthy brand in the insurance market. The company has the goal of becoming a global player within the framework of global standards and ethics. Our operation ranges from insurance of diverse risks to Indemnity, Guarantees and Asset Management amongst others. The company is structured and positioned to meet the dynamic needs of various customers as well as provide tailored solutions to emerging challenges in the years ahead. Our business is driven by up-to-the-minute technology; managed by accomplished professionals; and led by vibrant and resourceful Board of Directors.

The company has consistently contributed to the economic development of Nigeria while also setting standards in the insurance sector. FIN Insurance in compliance with the provisions of the Insurance Act 2003 is registered as an insurer of General and Special Risks insurance business. It was acquired by then Finbank Plc and name was changed to Fin Insurance Co. Ltd in 2008. In 2012 Finbank was acquired by First City Monument Bank (FCMB) and this automatically made Fin Insurance a subsidiary of FCMB. The controlling shares of Fin Insurance was acquired by Capital Alliance Private Equity III Limited in February 2014 and because of the holding interest of Capital Alliance Private Equity III Limited in Cornerstone Insurance Plc a ‘no object letter was issued by National Insurance Commission (NAICOM) to Cornerstone Insurance for Fin Insurance to become a subsidiary of Cornerstone Insurance in 2015.

Our business extends beyond insurance of varied risks to indemnity and guarantees, and asset management amongst others.

FIN Insurance, today has over fifteen (15) Branches nationwide. As at December 31, 2007 the Company received premium income worth N242, 858, 800 million from its operators and its Total Asset Base was N3, 398, 278Billion. FIN Insurance enjoys good global re-insurance arrangements with both foreign and local reinsurers.

The company authorized share capital was increased in 2009 to N5 Billion ordinary shares of N1.00 each. The company is capitalized beyond the compliance requirements of the Investment and Securities Act 1999 and the Insurance Act 2005 with N3.3 Billion paid up share capital.

The company like all legacy companies that passionately desire to have continued relevance in the environment in which we operate, evolves and reinvents itself continuously. Today, FIN Insurance is a strong and visible brand in the insurance sector, an experienced, viable and competent insurance company.

The company has the goal of becoming a global player with global standards and ethics. The company has set direction with its Mission Statement, to provide first-rate risk management services to diverse client base.

The change management programme of the new Management team attract, deploy and retain the best quality staff, establish the company as a leader in product innovation and in the provision of customer service, utilize cutting-edge business systems and processes.

There can be no doubt that the future for FIN Insurance is brilliant with latest Technological innovations.

Product and Services of FINSURANCE COMPANY

Fin Insurance Company Limited is registered by the Corporate Affairs Commission – RC 38815 and the National Insurance Commission – RIC 047.
National Insurance Commission is responsible for the regulation of Insurance Business in Nigeria.
Fin Insurance Company Limited is authorized to effect and carryout contracts of General Insurance business under the following categorization:

  • Insurance of Automobile
  • Insurance of Property
  • Insurance of Pecuniary Interests
  • Insurance of Casualty
  • Insurance of Transportation
  • Insurance of Suretiship
  • Insurance of Engineering Services and Equipments
  • Insurance of Energy

Contact of FINSURANCE COMPANY

 

  • HEAD OFFICE
    No 34 Gana Street, Maitama,
        Abuja.
    09-2913712, 08067670613
    info@finsurance.com.ng
    Onyekachi Mabia
  • Lagos Branch Office
    Okoi Arikpo House, 5 Idowu Taylor St
        NUC Building, 1st Floor, V/Island, Lagos, Lagos State
    08127009473; 08034059200
    ephilip@finsurance.com.ng
    Doyin Shodeinde (Regional Manager South/West)
    Esther Philip (Branch Manager)
  • Ibadan
    NO 67 Aboderin Layout, Ring road Opposite Shoprite,
        Ibadan, Oyo State.
    08034440705, 08129927016
    malidu@finsurance.com.ng
    Muyideen alidu (Contact Person)
  • MainLand
    115, Bode Thomas Street,
        Surulere, Mainland, Lagos State.
    08023393067, 08129926954
    dshodeinde@finsurance.com.ng
    Doyin Shodeinde (Regional Manager South/West)
    Olawale Ademola (Contact person)