4. Its endurance is noteworthy under unlike circumstances, that some are given to calling the camel “ THE GIFT OF GOD ”. The survival and strength of the Camel have made it a valuable beast of charge. 5. Camels can be organized for common aid and security against the hazards of travel as a caravan The CAMEL© as a LOGO is interesting for all its correlation to indemnity as follows : CAPACITY: Insurers are expected to have the fiscal forte to contain the risk of losses that they have agreed to bear. SOLVENCY: Insurers are expected to keep RESERVES, including mathematical reserves, against future claims. SECURITY: Insurers are expected to have the backup necessary to ensure that flush claims of identical high magnitude are settled by spreading the simulate fiscal burdens in an organize marketplace for avail and protection against catastrophes. The Camel© Nigeria Logo was registered as a trademark of Leadway Assurance Company Limited in 1971. Phenomenon behind the Camel and Sunrise This concept is about a rejuvenate company with a solid background and inheritance that has repositioned itself to meet with global changes and to be compliant with modern practice in fiscal services diligence. What does the symbol stand for? CAMEL: The Camel depicts Strength, Stability, Courage, Companionship, Support and Friendship SUNRISE: The Sunrise depicts a rejuvenate strength in service pitch
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ORANGE COLOUR: The Orange discolor depicts the party ’ south invigorated military capability, willingness to honour its promises, generosity to all our customers and prosperity in the animation of the party. BLACK COLOUR: The Black color depicts Reliability, Royalty, Optimism & Prosperity NAME FONT: The font used for the Company ’ s name is Frutiger. This baptismal font stands out amongst its peers. It is static, convinced and legible. Incorporation Leadway Assurance Company Limited was incorporated as a limited liability party in 1970 and started business operation in 1971. The Company ’ s business operation started in Kaduna from where it spread to other parts of the confederation. soon, Leadway has over 24 ramify Offices with Kaduna serving as the Registered Office and Lagos, the Corporate Office. The Founder The Founder, Sir ( Dr. ) Hassan Olusola Odukale ’ s vision was to build an policy company that will serve the interest of insureds ; responding to losses promptly and able to compete with other international insurers. This vision was driven by a team that included some of its past president Alhaji Hassan Hadejia ( immediate Past Chairman ) Alhaji Mohammed Faruku and Pastor Jaiyeola Oni ( former General Manager ). Sir, ( Dr ) Hassan O. Odukale policy business started as an agency representing the interests of Royal Exchange Assurance Nigeria in the northerly region of Nigeria. It subsequently transformed to Gaskiya Insurance Brokers before it was re-registered as Leadway Assurance Company Limited. During this time, Sir Odukale knew little or nothing about the sector. however, by dint of hard exploit, assurance and honesty Sir Odukale and his partners were able to build a business that has successfully outlived them. The highly honor indemnity practitioner passed on in 1999. He was a Fellow of Chartered Insurance Institute of Nigeria ( 1995 ) and a Paul Harris Fellow. Business Operations At the begin, the ship’s company had to survive on the grace of many companies including Northern Nigerian Development Company ( NNDC ), which gave it rent relief and Bank of the North. The Founder, Sir. Odukale besides mortgaged his house in order to raise the N50,000.00 statutory deposit to Central Bank of Nigeria, ( CBN ). One of the major factors that kept Leadway afloat over the years was that Sir Odukale and his successors strategically, shifted the focus of the clientele from traditional motor and life commercial enterprise to achieve stability and phenomenon growth in other allied indemnity businesses, even though motor and Life indemnity inactive constitute a large lump of its business.
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In late seventies the party started operate on in Lagos market. The big break from a traditional retail underwrite business to the big corporate insurance company came in the eighties when it started working with brokers. The boastful break for Leadway was in 1982, when a Broker gave the caller the opportunity to participate in the cover of some marine indemnity businesses. however, one of these policies resulted in a claim of about $ 1 million. To the surprise of diligence watchers, the claim was promptly pay up. The success of this call opened a newly view of opportunities for Leadway and drastically changed its business operations as it was able to penetrate into corporate organizations and the lucrative Lagos market. Leadership Change In 1994, there was a changed in the mantle of Leadership. Mr. Oye Hassan- Odukale, became the MD/CEO and in less than 10 years, the company was repositioned to an enviable stature through the discovery of early sources of investments outside the indemnity sector. These includes investment in quote politics bonds, public and private companies .