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‘Mutual Benefits Returns To Profitability

Mutual Benefits Assurance Plc has returned to profitability after a foreign loan denominated in dollar and obtained by the company plunged it into a loss, Chairman of the company, Akin Ogunbiyi, has said.

He spoke at the 22nd Annual Thanksgiving Service in Ikeja, Lagos. He promised to reward its shareholders soon.

Ogunbiyi said the previous year was very tough for operators, but despite this, the company was able to return to profitability.

He said despite the tough businness environment, the company would soon be among the first that will release its financial statement and from the figures, they are back to profitability.

‘’Twenty years after, the company still stands,despite recapitalisation and tough operating environment. Last year was tough for everybody, but as tough as it was, we are able to return to profitability’’, he said.

Mutual Benefits Managing Director, Segun Omosehin, said the company will soon reward shareholders.

He stressed that the management of the company has been making efforts to increase its top line and bottom line, a feat that was achieved in the outgone year.

He said though the insurer’s 2017 audited account was yet to be out, there were positive signs that there were better days ahead for the shareholders and customers.

“We are hopeful that by the time our audited account is out, we will make our stakeholders smile, especially our shareholders who have stood by us for years, during the trying time. We will make them smile soon. The thanksgiving service was a day set aside by the organisation to thank God for his mercy in the lives of its customers, the management and the entire staff of the company in the outgone year”.

He promised the customers as well as partnering broking firms better service delivery in the current year, stating that Mutual Benefits has lots of products and service to meet the needs of insurable Nigerians.

Meanwhile, at the event, about 86 workers of Mutual Benefits Assurance PLC were rewarded for their dedication and loyalty. The beneficiaries who were given long service award, are staff woekers who have stayed between five and 20 years, while 22 workers were retail award recipients.

Speaking on this development, Omosehin said the award was to recognise committed colleagues who have worked with the company for between five and 20 years.

This post first appeared on Nigerian Latest News Papers News Online, please read the originial post: here

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‘Mutual Benefits Returns To Profitability


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