Olalekan Solende's 51-year insurance journey highlights trust and asset protection in Nigeria
At 83, Olalekan Solende has maintained a 51-year insurance relationship with Rex Insurance Limited, beginning in 1975.
In Brief
- •At 83, Olalekan Solende has maintained a 51-year insurance relationship with Rex Insurance Limited, beginning in 1975.
- •Solende has filed only two claims in 51 years, demonstrating the long-term value of insurance.
- •His experience underscores the importance of choosing a reliable insurer for financial protection.
- •The insurance industry in Nigeria is still struggling to gain public trust and market penetration.
Why It Matters
Solende's long-term insurance relationship highlights the potential benefits of sustained risk protection and dependable service in Nigeria. His experience offers a personal perspective on an industry that is still working to convince many Nigerians of the value of insurance. The story also underscores the importance of choosing a reliable insurer for financial protection, which can be a powerful driver of loyalty.
Key Details
- Duration of Insurance Relationship
- 51 years
- Number of Claims Filed
- 2
- Insurance Penetration
- Below 1% of GDP
Context & Background
Nigeria's insurance industry is still struggling to gain public trust and market penetration, with insurance penetration remaining below one per cent of gross domestic product.
Original Reporting & Sources
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