IGI commenced business in 1992 as a composite insurer to transact the business of Life and General Insurance (including Pensions and Special Risks). The Company quickly established a reputation for exceptional competence in the delivery of customer-centric services as well as product innovation.
With a strong capital base, highly qualified professionals and deployment of modern technology for speed and efficiency, IGI has become the preferred insurer for individual and corporate clients seeking premium insurance and related financial services. In 1996 - four years after it commenced operations - IGI became the first private insurance company in Nigeria to achieve N1billion in
premium income.
We have, within our few years of existence, been ableto prove ourselves as market leaders in the insurance industry. In 2004, IGI maintained its leadership position in the industry with a premium income in excess of N4 billion - the highest in terms of volume of business by any private insurance company in Nigeria.
IGI also has a wide and diversified investment profile which includes ownership and majority equity holding in companies engaged in telecommunication services, mortgage banking, aviation, oil and engineering services, forestry, and health care delivery services, amongst others.
From inception, IGI has demonstrated exceptional competence and expertise in the underwriting of specialised risks in Oil & Energy, Marine, Aviation, Engineering and Industrial Risk Management.
This reputation earned the Company national recognition in 1996 when it was appointed by the Federal Government as the leading member of a consortium of four insurance companies to handle the insurance programme of the Nigerian National Petroleum Corporation (NNPC), the Federal Government owned oil exploration and refining company.
The remarkable performance achieved in 1996 led to the re-appointment of the IGI-led Consortium for the underwriting of the NNPC Insurance programme for 1997 and 1998.
IGI also handles the insurance programmes of foreign oil companies operating in Nigeria including The Shell Petroleum Development Company of Nigeria, Elf Petroleum Nigeria, Agip Oil Company, Addax Petroleum and Pan Ocean Oil Corporation, amongst others.
In 2005, IGI underlined its resolve to be a key player in the African insurance market when it acquired 60 percent majority shareholding in the National Insurance Corporation Limited (NICL) of Uganda after a competitive international bidding exercise.
Through recruiting and deploying people with diverse talents and capabilities, the Company has been able to build solid and sustainable value added relationships with customers and other stakeholders.
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