Anchor Insurance Company Limited was registered in June, 1989 and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit. The Company, thereupon, commenced business in November of the same year.
It started off operations from its registered office in Uyo, Akwa Ibom State and later, for strategic reasons, joined its fellow underwriting outfits in Lagos. Consequently, while the Company 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 eighteen branch office network located at strategic cities across the country.
The Company has constantly been showing strength and strong innovation in timely claims administration, customer experience delivery, product creation and yearly bottom line performance. The company’s audited accounts for year ended 31st December, 2019 shows a gross written premium of N4.2bn from N3.4bn written in 2018 with total assets standing at N7.2bn, shareholders’ funds amounting to N5.3bn and solvency margin being N5.3bn.
In May, 2019, our regulator, the National Insurance Commission (NAICOM) issued a circular to all insurance companies on raising their capital base. Anchor Insurance Company Limited has since received a letter from NAICOM acknowledging that it has met the requirements for the first phase of the recapitalisation exercise while only awaiting the regulator’s verification. The Company has already gone far with plans and actions to meet all the requirements for the second and concluding phase. As it meets these requirements, Anchor Insurance is not merging with any other organisation to keep its identity intact.
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 best foot forward. The Management team which is headed by a young intelligent professional and sharp reference item in the Nigerian insurance business space comprises well-rounded and result-thirsting individuals from different lines whose passion for getting things right at first attempt has stood the Company out as a phenomenon in the nation’s risk-bearing sector.
Having earlier been decorated with the Fastest Growing Insurance Company of the Year award, among others, Anchor Insurance Company Limited recently added another belt to its ratings when it was honoured as the Insurance Company of the Year 2019 by Daily Independent Newspapers. This was in recognition of the fresh breathe the Company has brought into people-friendly insurance products creation, risk management, claims administration and corporate governance matters. These are developments which have engendered a positive conversation for the Company and the nation’s insurance practice in general.
What We Do
All general insurance businesses, among which are:
- Property Insurance
- Engineering Insurance
- Liability/Bonds Insurance
- Marine Insurance
- Group Personal Accident
- Goods in Transit
- Oil & Gas/Special Risks Insurance
- Retail/Personal Line Insurance
- Motor Insurance
- Aviation Insurance
- Micro Insurance
- Loss of Employment Insurance Scheme
- Agriculture Insurance
- Travel Insurance
Anchor Insurance, a company with strong re-insurance and treaty arrangements, is a member of international, regional and local insurance organizations such as African Insurance Organization (AIO), West African Insurance Association (WAICA) and Nigerian Insurers Association (NIA).
Corporate Mission & Vision
Our customers and clients are reason we are in business customer satisfaction is a priority in Anchor Insurance.
Our promise is “All stakeholders will surely enjoy a pleasant experience”.
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.
To be the most innovative and preferred provider of General Business Insurance Services in Nigeria.