ROYAL EXCHANGE UNVEILS PLANS FOR BRANCH EXPANSION

10th December, 2010
PRESS RELEASE
ROYAL EXCHANGE UNVEILS PLANS FOR BRANCH NETWORK EXPANSION

As part of its transformational strategy to position itself as a major financial services group, Royal Exchange has unveiled plans to roll out 15 additional branches throughout the country in 2011.

This plan was disclosed by the Chairman of Royal Exchange General Insurance Company Ltd, Alhaji Rufai Mohammed at the official commissioning of the ultra-modern office complex of the company at Marina, Lagos.

Alhaji Mohammed, who noted that insurance penetration is abysmally low in Nigeria, said Royal Exchange is taking the lead to reach out to the mass public and elicit their interest in insurance, by embarking on a deliberate policy of sustaining an extensive branch network throughout Nigeria.

“The renewal of the Lagos main branch of the company”, he said, “is in keeping with the policy of the Board of Royal Exchange Plc to provide a conducive environment for the conduct of the company’s business and in line with the group’s transformational strategy to become a major financial services provider in Nigeria”

Alhaji Mohammed avowed that the enhanced status of the Marina branch of the company signifies the vast improvements in the quality of the company’s service delivery to its clients who cut across three generation of Nigerians.  According to him, “Royal Exchange places a high premium on the condition of the operating environment of its staff and customers, as signified by the modern office complex.”


 
Earlier in his welcome address, the Group Managing Director of Royal Exchange Plc, Mr Allan Walmsley, stated that the success of Royal Exchange rests on four main

pillars: Product, People, Pricing and Technology. He expressed optimism that in the future, all concerned will begin to see “the benefits of our new technology platforms being rolled out, as well as a variety of new products and services.”

In a complimentary speech, the Deputy Managing Director of Hogg Robinson Brokers, Alhaji Saheed Egbeyemi said his company’s relationship with Royal Exchange started in 1974 and since then, they have been satisfied with the company’s strong financial base, consistent and dynamic management as well as prompt settlement of claims. “Royal Exchange is one of the top insurance companies in Nigeria, but in order to remain so, it must continue to leverage on its strengths and continually deliver on its prompt claims payment, while being attentive to the needs of its various customers,” Alhaji Egbeyemi concluded.


Speaking in the same vein, the Head of Insurance, Cappa & D’Alberto, Mrs Siwoku Omolara, put her company’s relationship with Royal Exchange at 64 years during which they have enjoyed enormous mutual benefits. She identified Royal Exchange’s unique quality as “their prompt payment of claims and attention to their clients’ needs and requests.”

Royal Exchange Plc, which has diversified into six subsidiary companies, with interests in general and healthcare insurance, life assurance, finance, wealth management and micro finance banking, currently has 18 branches across the Federation and 4 regional offices in Kano, Abuja, Kaduna and Port Harcourt.

 

For more information, please contact:

Corporate Affairs Department
Royal Exchange Plc

34/36 Oshodi-Apapa Expressway
Oshodi, Lagos
Phone:  01 7939432
Email:  Austin.Agbareh@royalexchangeplc.com or
Wilson.Okoh-Esene@royalexchangeplc.com
Web:   www.royalexchangeplc.com