African Alliance pays out N4.08bn claims in 6 months -

Foremost life insurer, African Alliance Insurance Plc has paid out N4.08 billion in claims to its customers spread across several lines of business in the first six months of 2022.

Speaking on the firm’s claims profile, Joyce Ojemudia, MD/CEO, African Alliance Insurance Plc, reaffirmed the company’s commitment to paying genuine claims as due.

“African Alliance Insurance Plc was built on a solid foundation of claims payment. Year in, year out, we do not shy away from fulfilling this critical obligation to our policyholders as due,” she said.

Ojemudia restated the company’s unchanging commitment to satisfying her teeming customers. “Our pay-off is not just an empty statement of facts but indeed an assurance, to remain devoted to our policyholders despite unforeseen circumstances which may arise. It’s been Sixty two years, and we have not wavered from our commitment” she concluded.

According to the year-to-date breakdown, the life insurer paid N1.81billion in Annuity claims; N857.2 million in Individual Life claims; N765.4 million in Group Life; N436.3 million in Takaful as well as N208 million in Esusu payouts.

Incorporated in 1960, African Alliance Insurance PLC is widely regarded as the strongest and most experienced life insurance specialist in these climes. Operating out of its HQ in Lagos, the ISO-certified firm has continually defied the odds as it continues to service all classes of Nigerians and businesses with best-in-class life insurance products.

Modestus Anaesoronye

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.