Standard Insurance Consultants Limited (SICL), one of Nigeria’s foremost insurance and reinsurance brokerage firms, has reaffirmed its commitment to national development with a ₦50 million donation to the building project of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos.
This was announced by Professor Ahmed Salaudeen, Chairman and Managing Director of SICL, during the company’s 45th anniversary celebration held in Lagos. The well-attended event brought together key players in the insurance industry, including executives from major insurance firms, the National Insurance Commission (NAICOM), international partners, long-standing clients, and other stakeholders.
In his remarks, Professor Salaudeen looked back at SICL’s journey from its humble beginnings in Ibadan, Oyo State, to becoming one of Nigeria’s most respected insurance brokerage firms with headquarters in Lekki Phase 1, Lagos. Over the years, SICL has served clients in strategic sectors such as oil and gas, aviation, marine, construction, hospitality, manufacturing, agriculture, and banking. Today, the firm maintains strong international partnerships, extending its reach far beyond the shores of Nigeria.
He attributed the company’s success to trust, transparency, and adherence to professional standards, stating, “Our journey has been defined by credibility, ethical conduct, and professionalism. These are the values that built and sustained us over the past four and a half decades.”
One of the highlights of his address was the company’s emphasis on premium remittance integrity. Professor Salaudeen proudly declared, “We do not wait for the 30-day premium remittance window set by NAICOM. We remit premiums promptly upon receipt from clients.” He added that SICL is currently among the top three insurance brokers in Nigeria known for this promptness and has built a reputation for financial discipline and reliability.
Looking ahead, SICL is embracing technology to improve client experience and service delivery. The firm is working on implementing a digital claims administration system aimed at accelerating claims resolution. In addition, SICL is developing online platforms that will allow users to purchase insurance products more conveniently.
“We are living in a digital age. Insurance must evolve with technology. That’s why we are prioritising digitalisation as a strategic pillar of our future operations,” Salaudeen said.
In the spirit of its 45th anniversary, SICL also unveiled plans for increased corporate social responsibility (CSR). Apart from the ₦50 million contribution to the NCRIB building project, the company is also partnering with the Chartered Insurance Institute of Nigeria (CIIN) and the Nigerian Council of Registered Insurance Brokers (NCRIB) to launch an endowment scheme aimed at supporting women in insurance. This initiative seeks to empower and uplift female professionals in the industry, creating opportunities for leadership, mentorship, and capacity development.
The donation and CSR initiatives were widely applauded by industry stakeholders at the event, who noted that SICL’s contributions go beyond business and reflect its role as a key player in shaping the future of the Nigerian insurance landscape.
SICL’s celebration comes at a time when the Nigerian insurance industry is pushing for deeper penetration, wider public trust, and increased adoption of digital processes. As one of the firms leading the charge in modernising operations while maintaining ethical standards, SICL is being viewed as a model for emerging players in the sector.
The company’s achievements, especially its resilience in the face of changing regulatory, economic, and technological landscapes, have not gone unnoticed. Stakeholders praised its forward-looking management team, consistent service delivery, and unwavering focus on client satisfaction.
As SICL steps into the future with bold ambitions and a firm grip on its legacy of excellence, many are watching with optimism to see how the company continues to shape the insurance sector both locally and globally.
