Universal Insurance Pays N471m Claims for Burnt Next Cash and Carry Supermarket in Abuja
- Abuja-based Next Cash and Carry supermarket has gotten N471 million in claims from Universal Insurance
- The insurer paid the claim following a tragic fire incident that overtook the popular supermarket in 2021
- Universal Insurance boasts an asset base of approximately N12.3 billion
Universal Insurance has announced the disbursement of a staggering N471.5 million claims to Next Cash and Carry, a supermarket within the Federal Capital Territory.
It would be recalled that Legit.ng reported in December 2021 that the popular Abuja supermarket was gutted by fire.
Legit.ng also reported that during the inferno, criminal elements had a field day looting items in the supermarket, including television sets, electric appliances and others.
Source: UGC
According to Punch, Universal Insurance recalls disbursing N1.2 billion claims to those who endured losses between 2015 and 2020.
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Delving into the specifics, the breakdown reveals a display of support, with N111.1 million disbursed in 2016, N330.3 million in 2017, N334.2 million in 2018, and N338.2 million in 2019.
The effort culminated in a total claims payout of N1.2 billion across nine insurance categories.
Universal Insurance says it remains dedicated to upholding its promise of safeguarding the interests of its policyholders.
The insurance company boasts an asset base of approximately N12.3 billion, supported by a substantial capital structure consisting of 16 billion fully paid shares and issued share capital of N8 billion. The shareholders' fund exceeds N9.7 billion.
Buhari's govt promises support for Next Cash and Carry after terrible fire outbreak
Earlier, Legit.ng reported that the Ministry of Humanitarian Affairs, Disaster Management, and Social Development expressed heartfelt sympathy and profound sorrow over the devastating destruction that befell the Next Cash and Carry shopping complex in Abuja.
In a display of concern, Minister Sadiya Umar Farouq and her team visited the inferno site on Wednesday, December 29, to assess the extent of the damage inflicted.
Recalling the swift response in the face of adversity, the minister highlighted the commendable efforts of the National Emergency Management Agency (NEMA) and other collaborating agencies who promptly joined the rescue operations upon receiving distress calls.
Source: Legit.ng
