From left: Company Secretary/General Counsel, Rex Insurance Limited, Sheila Ezeuko; Chairman Rex Insurance Ike Chioke; Commissioner for Finance Lagos State, Abayomi Oluyomi and Managing Director/CEO Ebelechukwu Nwachukwu at the event.

 

The Governor Lagos State, Commissioner for Insurance, Chairman Nigerian Insurers Association (NIA), President Nigerian Council of Registered Insurance Brokers (NCRIB), All Distinguished guests present physically and virtually, colleagues (REXstars), Family and friends, Ladies and gentlemen of the media,

It is with immense pride and great joy that I stand before you today as we celebrate the commissioning of our new head office building and the launch of our refreshed and new brand. This moment marks a significant milestone in our company’s journey that started since 1918 and a testament to the hard work, dedication, and vision of everyone involved. We are truly a transgenerational company and today’s occasion is to celebrate this.

Over the last three years of our company, we have experienced the injection of additional capital by two great entities, Blue Orchard through its Insuresilience Fund and Africinvest through its Financial Inclusion Vehicle (Five). We have gone through the digitization and digitalisation of our processes as part of our Digital transformation journey. We have transformed our approach to customer services and improved our human resources. Revamping of Brand today is to reflect all of the changes that have already happened to the business and the transformation that is still on going.

Distinguished guests, today, as we unveil our new brand identity, we believe that this brand is a true representation of who we are and what we stand for , a digital, customer focused company, with great simplified products, a commitment to developing climate based Agric insurance products, develop simple inclusive products to serve the growing retail market and a customer excellence culture that serves our Corporate customers and Brokers.

It embodies our core values, our dedication to quality, and our commitment to our clients. It is a beacon of our promise to continue delivering exceptional value and service to our customers and great returns to our shareholders.

Our new Vison Statement – “To be the preferred Nigerian insurance company” speaks to our desire to be the preferred place to work, the preferred company to place your risk with and the preferred leader in the insurance space in Nigeria; while our new Mission Statement – “To provide innovative and convenient solutions that  inspires a future where insurance is simple, empowering and accessible to all” speaks to our drive to make our products and services simple and easily accessible using technology to all Nigerians, individual and Corporate.

Our Core Values have also been redefined to ensure every staff portrays the key attributes of Resilience, Efficiency, Xcellence, Integrity and Teamwork (REX-IT). These core values we intend to drive as our culture that will be reflected in everything we do and will drive all our interactions, with all our internal and external stakeholders.

Our new headquarters will serve as a hub of innovation and collaboration. It has been designed to be an energy saving building that includes a creche for our employees and a gym to promote wellness. We also will introduce a games area to ensure a balance of work and play within our premises. It is designed to be dynamic and inclusive, an environment where ideas can flourish, and talents can thrive. This building will be the heart of our operations, driving us towards new horizons and greater achievements.

We have also revamped all our locations in Abuja, Port Harcourt, Ibadan, Benin while setting up services on Ikorodu road, all in an on-going process to ensure the same standards across all the locations where we operate.

As we look to the future, we are filled with excitement and optimism. The commissioning of this building and the launch of our new brand marks the beginning of a new chapter. We are ready to embrace the challenges and opportunities that lie ahead with confidence and determination.

For us all, it is a great privilege to have the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu is here to commission our new Head Office and unveil the face of Rex Insurance Limited to the public.

Your Excellency, we at Rex Insurance see insurance as a valuable economic tool that is a risk mitigant and promotes economic growth. Insurance encourages economic activity by reducing the financial risks faced by businesses and individuals. This can lead to increased investment, entrepreneurship, and consumer spending, which in turn boosts tax revenues for the government. Rex Insurance Limited is here to ensure that Government, Corporate entities and individuals can live life in full.

For Rex Insurance, we desire an opportunity to partner with the Lagos State Government to continue to promote the enforcement of compulsory insurance products like the Builders Liability, Occupiers liability, Professional indemnity, Third party Motor and Group Life insurance. We look forward to partnering with to ensure that Lagos state continues to attain great economic growth and stability.

We are also honoured to have the President and Past presidents of the NCRIB here present. Rex has grown through the last 100 plus years due to the immense support from registered Insurance Brokers. We are positioned to further drive our interactions and services to ensure we support our brokers to deliver prompt claims settlement to their clients and the insuring public.

 

We thank very strongly our Agents and the entire community at ARIAN for their continued and growing support as we push our retail and Agric insurance business strategy. Greater interactions will be obvious in the years to come.

To my colleagues at Rex, some of whom have spent over 30 years in the employment of this great company, I say a big thank you for your dedication. The company’s commitment to the professional development of her workforce is stronger than ever before.

To our design and construction teams, thank you for your incredible efforts. You have created a space that not only meets our functional needs but also inspires creativity and collaboration. This building reflects our innovative spirit and our drive to lead in our industry.

To the planning Committee that planned this event, our heart-felt appreciation for the time and energy spent. Indeed, you have all done well.

In closing, I would like to thank God and every one of you for being here to share this special moment with us. Your presence is a reminder of the strong community and network we have built over the years. Together, we will continue to reach new heights and achieve remarkable success.

Let us celebrate this momentous occasion and look forward to a future filled with promise and potential.

 

Ladies and Gentlemen, Rex is here.

 

Thank you.

 

Ebelechukwu Nwachukwu

Managing Director/CE

June 27th, 2024