Asenuga said the company aims to add value to the industry.
He stated that the firm was working with stakeholders to increase awareness and take its message to the grassroots.
He pointed out that in developed economies, insurance firms owned banks, but regretted that this was not the case in Nigeria.
He said: “The role we all have to play is to be ambassadors of Mutual Benefits. A franchise is a well-known word and the way we practise franchise is in our normal style of creating and adding value, we never rest.
“The firm will provide stakeholders with the platform and support to make them excel as a member,” he added.
The Group Managing Director of Odua Group, Mr Adewale Raji, advised stakeholders to be committed and show good character and integrity.
“The Odua investment is owned by the six Southwest government and it is in our interest when economic, businesses and investment spreads across the Southwest states. This is an opportunity for us to strengthen insurance penetration within the Southwest states. This is why Odua investment is interested in a venture like this because it is helping the economic development of the Southwest.
“Beneficiaries are privileged to be associating with a credible brand and it is important they equip themselves with the right knowledge and competencies to relate with the public. in so doing, they should brush on a value coming from this brand for them to increase their economic ethics and deepens their knowledge about insurance,” he said.