Leadway Assurance plans divestment to drive synergy and efficient capital allocation within the group

The management of Leadway Assurance Company Limited has decided to focus on its core Insurance business thus divested its non-insurance subsidiaries (Leadway Pensure PFA Limited, Leadway Capital & Trust Limited, Leadway Hotels Limited, Leadway Properties & Investments Limited & Leadway Assets Management Company Limited) during the year to Leadway Holdings Limited.According to the Managing Director, Mr. Oye Hassan Odukale, the divestment is to drive synergy and efficient capital allocation within the group. Leadway Vie Cote d’Ivoire is a life Insurance Company which is “born digital” was lso lauched during the year. Leadway Vie has been planned and is being executed as a digital-led business. It is being positioned as a company to TRUST – we will not tell stories when our customers need us. This is our first venture outside Nigeria.

 

Odukale also revealed that in 2019 – 2020, we will focus on sweating our digital Assets and platforms, fine-tune our products to appeal more to our target and ensure a seamless customer experience across board.

 

“Leadway’s Strategic plan involves measures and initiatives to help achieve targeted growth and profitability in addition focus more on deploying and harnessing our various digital assets to enhance customer experience and drive growth in the top line.

 

“Our overall strategic aspiration is to maintain our number position in market share and profitability. We intend to achieve this by fully embracing digitization in all aspects of our business, diversify our business portfolio and dominate out chosen markets.

 

“These three pillars will be supported with specific initiatives around scalable technology & digital platforms, efficient service delivery and customer service excellence, optimum human capital as a source of competitive advantage, effective risk management, relevant partnerships and alliances.

 

“We will aspire to continue to grow our retail footprints as we believe this is the future and continue to maintain our market leadership in corporate businesses.

Leadway Assurance Company Limited Group is committed to adhering with high standards of good corporate governance at all levels of its operations. On that note, the Board of Directors has continued to ensure the implementation of corporate governance principles that guarantee fairness, accountability and transparency in all its dealing within and outside the Company and its subsidiaries.

 

At Leadway, we complies with all laws, regulations, rules and guidelines, applicable to insurance business, including the Code of Business Ethics and Principles on Good Corporate Governance issued by the National Insurance Commission (NAICOM).

 

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