MD’s Statement
FIN Insurance Company Limited (formerly, Yankari Company Limited) was incorporated on 24th April, 1981 as a limited liability company wholly owned by the Bauchi State Government. It was registered as a licensed insurer in 1982, and commenced business on the 1st January, 1983.
The company was then acquired by Finbank Plc and had its name changed to Fin Insurance Co. Ltd in 2008. In 2012, Finbank was taken-over by First City Monument Bank (FCMB) while FIN Insurance subsequently became a member of the FCMB Group. In a bid to transform the company’s operations, FIN Insurance was acquired by Cornerstone Insurance Plc (with Capital Alliance Private Equity III Limited) in 2014.
This move was ratified and approved by National Insurance Commission (NAICOM) in 2015; thereby making the company a subsidiary of the Cornerstone Group. As at December 31, 2022, the Company recorded a gross premium income of over a N3.4b with the total Assets N12,561,542,000.00 and shareholders fund of N9,865,461,000.00 while our paidup share capital is N5 billion ordinary shares of N1.00 each.
The company is currently capitalized beyond the compliance requirements of the Investment and Securities Act 1999 and the Insurance Act 2003. FIN Insurance Company Limited is authorized to effect and carry out contracts of General insurance business under the following categorization: Motor, Fire, General Accident, Marine, Engineering, Aviation, Bond and Agricultural Insurance.
Our business is driven by up-to-the-minute technology; managed by accomplished professionals and led by vibrant and resourceful Board of Directors.
Board of Directors
• Paul Kokoricha (Chairman)
• Bashir Binji (MD/CEO)
• Afolabi Elebiju (Non-Executive Director)
• Martins Uwuilekhue (Non-Executive Director)
• Abdulkareem Mohammed Sani (Independent Non-Executive Director)
• Dr. Nkiru Balonwu (Independent Non-Executive Director)
• Peter Ekwueme (Executive Director, Technical/Operations)
