FirstBank Nigeria, GMD's speech for the fbn life launch final
A SPEECH BY MR. BISI ONASANYA, GMD/CEO, FIRST BANK OF NIGERIA PLC, ATTHE LAUNCH OF FBN LIFE ASSURANCE LIMITED, MARCH 14, 2011.PROTOCOL:It gives me great joy to be part of the launch of FBN Life Assurance Limited, the neweststrategic business window in the FirstBank Group. FBN Life Assurance Limited wasincorporated as part of FirstBank’s commitment to a process of integrating andconsolidating its customer service systems and improving the service process itself. Thekey deliverable was to combine FirstBank’s strong brand equity with the insurancebusiness’ ability to offer the right product or combination of products to the right customerthrough the right channel at the right time.We had initiated the process of incorporating a life assurance business long before thenew regulatory changes to the banking space. Persuaded by the strength of our visionwe would comply with the new regulations on the Bank’s relationship with its non-corebanking business by transferring ownership and control of FBN Life Assurance Limited tothe holding company that will now manage all assets in the old FirstBank Group.We are proud of our association with the Sanlam Group, one of Africa’s foremostinsurance providers, with over nine decades of operation and offices across Africa,Europe, Asia and the United States. The Sanlam and FirstBank representatives wereprofessional as we worked together to create FBN Life. I trust that our two groups,working together, will bring our heritage, experience and expertise to bear on this newunion. The FirstBank and Sanlam implementation teams, therefore, deserve ourapplause.I have confidence in the values and organisational culture of FBN Life, which arenaturally offshoots of the values and culture which have brought FirstBank through onehundred and seventeen years of dynamic leadership in the financial services industry.Some of you here can attest to the upswing of FBN Life operations in the past six monthsand its reverberating influence on the insurance sub sector. We appreciate yourinvaluable support now and always.
At FirstBank, First Life comes through in the midst of the inroads we have forged in otherdynamic areas of business operations, which include investment banking, trusteeship,assets management services, registrarship services, pension custodial services, privateequity/venture capital, insurance brokerage, currency trading and micro financing. Weare particularly excited to add life insurance to our growing chain of businesses. Ourbrand pillars, which we hold dearly, include enterprise and service excellence. You canrest assured that we would continue to provide innovative and life enriching solutions tothe business needs of our customers and the world at large.I congratulate the Board, Management and staff of FBN Life Assurance on thisauspicious occasion. Like good parents, FirstBank will always be there to support youand we are confident that like our other subsidiaries, you will become Nigeria’s firstchoice in wealth creation and financial security.Ladies and gentlemen, I thank you all for your inspiring presence here tonight. We areespecially honoured that you could take out time from your very busy Monday scheduleto grace this occasion. You also deserve a round of applause for your invaluable support.May God bless and prosper FBN Life.Bisi OnasanyaGroup Managing Director/CEOFirst Bank of Nigeria Plc.