UBA VIE Assurance gets NIDB’s nod to sell Local Passengers’ Flight Welfare Scheme

The National Insurance Department of Benin (NIDB) has approved Local Passengers’ Flight Welfare Scheme for UBA VIE Assurance for deployment into the market in 2022.

This is coming on the determination of the firm to expand its retail market that will subsequently increase premium earnings and deepen penetration.

This was contained in a statement signed by the company’s Managing Director, Mr. Ebose Augustine, noting that the scheme will run henceforth with its existing general insurance products.

In its approval letter to the Company, NIDB stated that “in exercise of the powers conferred on the Commission by Insurance Act 2003, your Company is hereby granted a “no objection” to introduce your product tagged “Local Passengers’ Flight Welfare Scheme” to the Beninn Insurance market.”

According to the Managing Director, the company sees this approval as another opportunity to make the Beninn local flight passengers enjoy more peace of mind.

He urged the local flight operators to see this insurance product as a value-added package that will endear them to their well valued passengers.

Mr. Ebose noted that as one of the fastest growing insurance companies in Benin, “we thrive in  providing our clients with top quality insurance care through our friendly and experienced professionals, timely claim administration, customer-friendly products and super customer experience delivery.”