The MD/CEO, SBG Insurance Brokers Limited, Mr. Sammy Dalmeida, has called on Nigerians to embrace insurance, noting that the recent collapse of the 21-storey building – a block of luxury apartments – in Ikoyi, Lagos, raises the need for businesses to arrange appropriate insurances for their projects, assets, human resource lives, employers’ liability etc.
While speaking at the formal presentation of an endowment of an Academic prize for excellence to the University of Lagos on Wednesday, December 1, 2021 at the University of Lagos Council Chamber, Mr. Dalmeida noted that section 64 of the Insurance Act of 2003 states that any building under construction must be insured while section 65 of the same Act states that all buildings must be insured against fire, etc, but as usual, the enforcement of these regulations has been a major challenge in Nigeria.
He revealed that the Academic prize for Academic excellence for the Best Graduating Student of Insurance is a 10-year academic prize which would be issued to the Best Graduating student in Insurance at every Convocation Ceremony.
The academic prize totalling 2.5 million naira, with each best graduating student receiving 250,000 naira every year, was endowed with the aim of spurring Insurance students to academic excellence, while honouring and recognising hard work, academic excellence and sacrifices of students of the Department.
The MD/CEO, who coincidentally is an alumnus of the Department of Insurance was in the company of heads of several insurance companies in the Industry, such as the MD, Custodian and Allied Insurance Limited, Mr. Edeki Isujeh; MD, Kinetic Insurance Brokers Limited, Dolapo Ali; MD, Sovereign Trust Insurance Limited, Olaodin Soyinka; MD, Mutual Benefits Assurance Plc, Femi Asenga; MD/CEO, Mascot Insurance Brokers, Toye Odunsi, some of whom are alumni of the University.
The Vice-Chancellor, Prof. Oluwatoyin T. Ogundipe, FAS, who was ably represented by the Deputy Vice-Chancellor, Academics & Research, Prof. Oluwole Familoni while welcoming the group, expressed pride at the sheer number of alumni who were MDs/CEOs. He also expressed delight at the fact that they remembered their alma-mater. He noted that endowing an academic prize will encourage healthy competition among students.
He also informed the giants in the Insurance industry that the University is actively pursuing getting the Department accredited by the Institute and Faculty of Actuaries (IFoA).
The Deputy Vice-Chancellor, Development Services, Prof. Ayodele Atsenuwa, in her address, among other things, reeled out some other areas the companies could support the University- research grants, professorial chair endowments, etcetera, and revealed that the University is set to return the date of Convocation back to January, according to tradition.
The Dean of the Faculty of Management Sciences, thanked the company for the generous donation and implored them to do more as the department and faculty had other areas of need. The acting Director, Office of Advancement, in the vote of thanks stated, among other things, that SBG Insurance Brokers ltd had succeeded in partnering with the University to promote healthy competition among students and expressed gratitude at the beginning of a wonderful partnership between the company and the University.
SBG Insurance Brokers Limited (formerly NAL Insurance Brokers Limited) was incorporated on May 2, 2001 and licensed on December 1, 2001 and it is a leading insurance broking firm in the Nigerian Insurance market.
