Standard Alliance committed to maintain to zero the volume of its outstanding claims

The management of Standard Alliance Insurance PLC is committed to maintaining the volume of outstanding claims at ground zero.
The amount of losses paid by the company in the last ten years have amounted to 1.8 billion NGN (14 million USD). For the sole year 2004, the compensations amounted to 202 million NGN (1.57 million USD). In 2005, the company disbursed more than 243 million NGN (1.89 million USD) to the victims as well as 315 million NGN (2.4 million USD) in compensations paid within the framework of an insurers' pool for the losses caused by a fire that broke out in a telecommunication terminal in Lagos in 2005.