Mutual Benefits Assurance Plc has once again demonstrated its commitment to gratitude and excellence as it celebrated its 29th Annual Thanksgiving Service on Saturday, January 18, 2025. The event, held at the Balmoral Convention Centre - Sheraton, Lagos, was filled with praises, reflections, and strategic announcements that highlight the company’s journey and vision for the future.
FAITH AND GRATITUDE: THE FOUNDATION OF MUTUAL BENEFITS' SUCCESS
In his keynote speech, Dr. Akin Ogunbiyi, Group Chairman of Mutual Benefits Assurance Plc, emphasized that the company's enduring success stems from its unwavering commitment to faith and thanksgiving. He recalled how the firm was built on a foundation of trust in God since its establishment in 1995, and how divine intervention has continually guided its path.
"Our secret is simple—thanksgiving. From the very beginning, we decided to always give thanks to God, and He has never failed us. Every year, we gather to express our gratitude, and this has been our anchor through challenges and successes alike," Ogunbiyi said.
According to Dr. Ogunbiyi, this year's Thanksgiving Service marked the goodness of God in the life of Mutual Benefits Assurance Plc. Reflecting on the past, he recalled how the first five years of their annual Thanksgiving were held within the office premises, but for the past 24 years, it has transformed into a carnival-like event, eagerly anticipated by staff, customers, families, and well-wishers.
"This has been the reason why God has always been our strength. As the pastor who preached today said, when we face delays or challenges, we should resolve to give thanks to God. For the last 30 years of Mutual Benefits, our annual Thanksgiving has been the secret to our existence in the insurance business, because God has always come down in His essence for us."
Dr. Ogunbiyi further testified about the early days of Mutual Benefits, recalling how before the company started fully, he and his team prayed for three years seeking divine direction. He recounted a striking experience where five women approached him at their Victoria Island office, attempting to persuade him to join a society that could provide financial backing for the firm.
"I turned them down and told them that Mutual Benefits is established on the pillar of God, and He will never let us down. To the glory of God, today, while Mutual Benefits has become vastly stronger, the so-called insurance companies they were supporting back then are nowhere to be found in the industry."
STRATEGIC GROWTH: INVESTMENTS IN OIL ASSETS AND FUTURE EXPANSION
Beyond thanksgiving, the event also served as a platform to highlight Mutual Benefits Assurance Plc’s strategic growth initiatives. Dr. Ogunbiyi revealed that the company’s investment in oil assets has started yielding positive results.
"We are strategically positioned for the future. Our investments in the oil and gas sector have now commenced production, and this will propel us towards becoming a dominant force in the insurance industry over the next two years," he stated.
Contrary to industry speculation, he affirmed that Mutual Benefits Assurance has no plans for mergers or acquisitions, but will instead focus on leveraging its internal strengths and strategic investments to expand its market share.
RECOGNITION OF LONG-SERVING EMPLOYEES
A key highlight of the celebration was the recognition of long-serving employees, whose dedication has been instrumental to the company’s growth. The company categorized the awards into three levels, honouring staff who have shown exceptional commitment over the years.
1. 20+ Years of Service: Employees who have dedicated over two decades to the company were specially celebrated for their resilience and loyalty.
2. 15 Years of Service: Those within this range were commended for their steady contributions and role in upholding the company’s values.
3. 10 Years of Service: they are staffs who committed employees who have significantly contributed to the company’s progress were also recognized.
Each award recipient received plaques in appreciation of their dedication. Dr. Ogunbiyi praised them, saying, "This company thrives because of the commitment of its people. You have been part of this success story, and we are proud to celebrate you today."
DIGNITARIES AND ROYAL PRESENCE
The event was graced by high-profile dignitaries, including traditional rulers from various regions. Their presence added a touch of prestige to the celebration, signifying the strong relationship Mutual Benefits maintains with communities and stakeholders.
The royal fathers commended the company’s impact on economic growth and insurance penetration in Nigeria, urging them to continue upholding high standards of integrity and innovation.
The Mutual Benefits Choir thrilled the audience with powerful praise and worship sessions, filling the hall with an atmosphere of joy and spiritual connection. Their performance further emphasized the company’s deep-rooted culture of thanksgiving, which has been at the core of its values since inception.
Adding to the spiritual atmosphere, Ife Sax delivered an electrifying performance, captivating the audience with his soulful saxophone renditions. His music added a unique touch of elegance to the event, leaving guests in awe.
One of the most memorable highlights of the event was the special number performed by the General Manager of Mutual Life. His performance was a defining moment of the day, earning standing ovations from the audience. It was a reflection of the talent, unity, and shared joy among the leadership and employees of Mutual Benefits Assurance.
LOOKING AHEAD: TOWARDS 30 YEARS OF EXCELLENCE
As Mutual Benefits Assurance Plc looks forward to celebrating its 30th anniversary in 2026, the company remains committed to innovation, customer satisfaction, and financial stability.
"This is just the beginning. The next chapter will be even greater, and we invite all our stakeholders to journey with us as we achieve new milestones together," Dr. Ogunbiyi assured.
The event concluded with a grand reception where guests, employees, and well-wishers shared in the celebration, marking yet another remarkable milestone in the company’s history.
Today, His Royal Majesty Oba Abeeb Adetoyese Agbaje Arowookunjoye II, along with the Oluwo of Iwo, HIM Oba AbdulRosheed Adewale Akanbi, and the Olupo of Oluponna, Olu Alaya, and the Olaa of Agunlaase, the members of the Eminent Group of Nine (EG9) Ileogbo, the crème de la crème of the society, are celebrating excellence and honoring our pride, Dr. Akin Ogunbiyi, at the 29th Thanksgiving Service of the Mutual Benefits Conglomerate.
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