Regency Alliance Paid N700m Claims during 2014 Financial Year.

Regency Alliance Insurance Plc have paid the sum of N700 million as various claims ccording to a statement obtained from the firm’s group managing director, Mr. Biyi Otegbeye.

Otegbeye also assured its stakeholders and the public of the company’s unfailing commitment to the payment of claims whenever the need arose being the bedrock of insurance business..

“Regency Alliance Insurance is an insurance company that lives up to its customers’ expectations. Both our corporate and individual clients are important to us and find Regency Alliance to be a true partner, especially in difficult times,” he said.

Otegbeye explained that the amount paid was in conformity with the company’s policy to ensure that all claims were paid as promptly as possible.

According to the statement, claims were made for losses arising from motor, fire and general accident, workmen compensation insurance policies and major players in the oil and gas sector.

The company said it had carried out a thorough appraisal of its operations and taken steps to address its shortcomings.