Boff & Company Insurance Brokers Ltd commenced Operations in October 1991 with a share capital of N500,000.00 (Five Hundred Thousand Naira) and four members of staff including the promoter.
Within two years of operations, Lagos Office was opened to provide Personalized Professional Insurance Brokerage Service to the economic nerve center of Nigeria. Based on the outstanding performance of the Company, many insurance accounts of factories, banks, insurance Companies, hotels, airlines, multinational corporations, Government parastatals and agencies were won and serviced throughout the nineties.
The Company’s share capital went up to N5,000,000 (Five Million Naira) in 1998 to comply with the Insurance decree 1997 and by year 2010, the Authorized share capital was increased to N35,000,000 (Thirty-Five million naira). This was fully paid up in 2013. In February 2016, the Authorized share capital was increased to N75,000,000 (Seventy-Five million naira) and it was fully paid up in 2017. In July 2017, the Authorized share capital was increased to N150,000,000 (One Hundred and Fifty million naira) out of which N75,000,000 (Seventy-Five million naira) was fully paid.
In August 1999, Abuja Office was set up to provide our usual Personalized Professional Services to the Political Capital of Nigeria.
Again, in February 2003, the Port Harcourt office was set up to cater for the oil rich region of the South South and South-Eastern Nigeria.
We advise our numerous individuals, corporate clients and governmental institutions on both Life and Non-Life insurance businesses while we also focus on Special Risk areas (Aerospace, Energy, Power, Construction and Political violence insurance policies).
The Company now has Eight Professionally qualified members of staff with seven others in various stages of completing their professional Examinations while a total of forty two personnel are now in our employ.
We also have a limit of N2,000,000,000.00 (Two billion Naira ) for our Professional Indemnity insurance cover though the minimum limit set by National Insurance Commission (NAICOM) is N10,000,000.00 (Ten Million Naira).
Foreign Trading Partner
Our overseas trading partner is Arthur J. Gallagher & Company- a United States based global insurance brokerage and risk management Services Company. AJG& Co. has over 300 offices in 19 countries employing more than 13,000 insurance professionals, while Alesco Risk Management Services in London – a registered Lloyd’s broker and reinsurers broker- is our trading partner for Energy, Power and Construction policies. AJG trades as Gallagher London in the UK. We also transact insurance businesses with Willis Limited (UK), Howden Group (UK , Airborne Insurance Consultants (South Africa).
Our Core Values
Our actions are based on these core values:
Our conduct shall earn the trust of our stakeholders at all times.
Application of exceptional skills in servicing our customers.
Corporate Social Responsibility:
Adding value always.
Our operations shall be environmentally friendly.
All these form our driving force to excellence.