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Premier indigenous rein­surance company in Ni­geria, Nigeria Reinsur­ance Corporation (Nigeria Re) said it has set a new strategic direction for the company in a bid to reclaim and sustain its leadership in the reinsurance market.

The company said this pro­pelling objective requires an urgent strategic roadmap for projecting the new possibilities in the reinsurance market, and that this need formed the rea­son the Board of the company to embark on a week’s retreat where the new roadmap was rolled out.

A statement from the com­pany said the retreat tagged “Strategic Road Map for Nige­ria Reinsurance Corporation” has a time frame of ten years starting from 2014 to 2024 and would be reviewed every five years for improvement where necessary.

According to Nigeria Re, the company since it was founded many years ago has continued to provide services that cuts-across risk/general manage­ment in the global market, fac­ultative & treaty underwriting, product development, techni­cal personnel training and leadership development.

Nigeria Re, the statement added, provides reinsurance services on property, casualty, oil & gas/energy, engineering, bond, aviation, marine and life risks with coverage in Africa, Middle East and Asia.

“The new roadmap, with the charge, to be a profitable global player in the reinsurance mar­ket is designed to place Nigeria Re back on track among the leading reinsurance compa­nies in the world. The compa­ny’s new mission statement is to strategically align internal and external partnerships ef­fectively using loyalty princi­ples as a guiding key towards the realisation of the charge”, the statement said.

Managing Director of the company, Lady Isioma Chuk­wuma, in the statement, said the execution of the new strat­egies has begun with the cre­ation of a new department called critical operations, not­ing the department is divided into three, namely customer loyalty, research and devel­opment and strategic perfor­mance units, and that the or­ganisation’s has since spear headed the implementation of the strategy for the successful realization of the new charge.

“The new roadmap is all encompassing- it is designed to create more market for the company, improve customer’s relationship, increase the company’s premium level and improve the visibility of the company. This has already commenced with the com­pany’s advert in the CNN for an initial airing period of one month. Besides this, the man­agement of the organization has packaged special programs specifically for our external partners. These programs will include local and international seminar/lectures, monthly customer loyalty team visits to all our existing and potential customers”, she said.

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