Guaranty Trust Assurance plc (GTAssur) has paid over N600 million in claims to its customers between January and June 2009, representing the first and second quarter of the year. According to information made available by the insurance company, these claims cuts across its various products offerings i.e. Motor insurance, Fire, Marine, Oil & Gas, Life and Investments.

 A breakdown of the payment shows that N273, 523,636.11 was paid to customers who took out its Motor insurance policies (Private Motor and Assur Motor Plus). N243, 560,258.13 was also paid in claims in the General Business category that comprises Engineering, Fire, Oil & Gas etc.

Renowned as a prompt claims paying company, GTAssur also paid N112, 240,272 in Life policies to its customers between January and June, 2009. This amount is made up of N103, 815,381.14 as death claims and N8, 424,891.57 for terminations of various investment products.

GTAssur only recently received an Aa- risk rating from Nigeria’s premier rating agency, Agusto & Co. This is an upgrade from its previous A+ rating.  GTAssur has maintained a steady growth over the years with a Gross Premium Income of N4.14 billion in 2008 as against N2.06 billion recorded for the corresponding period in 2007. Its Profit before Tax also stood at N2.0 billion as against N1.10 billion in 2007.

Guaranty Trust Assurance plc is a subsidiary of Guaranty Trust Bank plc