BusinessDay
NigeriaDecides2023

African Alliance pays N1.42bn claims in first two months of 2022

Foremost life insurer, African Alliance Insurance Plc, has paid the first two month of 2022, that is January and February a total of N1.42 billion in claims.

“Broken down; we paid N268.14 million in Group Life claims; N248.79 million in Individual Life claims; N165 million in Takaful claims; Esusu took N8.77 million while Annuity was N726.18 million,” she said.

This is as the company restates its commitment to stronger and better business relationships with the Nigerian Council of Registered Insurance Brokers (NCRIB).

Joyce Ojemudia, managing director/CEO gave the assurance to members of the South-South Area Committee of the NCRIB during their Members’ Evening sponsored by African Alliance Insurance Plc held in Port Harcourt. .

Speaking at the event, Ojemudia said: “We do not take your supports for granted, knowing well your critical role in our industry as well as being our longstanding partners in progress.

For every business we have gotten from you, we say thank you. But like Oliver Twist, we want more. Wanting more for us is not just about raking in more premiums, it is also about partnering with you to grow your businesses too while bringing succour to our mutual clients as well as driving the industry’s penetration.

We reiterate our unstinting commitment to making you happy; after all, we are all in the business of putting smiles on people’s faces.”

Highlighting the company’s claims profile in the ongoing business year, she said in the first two month of the year, i.e January and February 2022, the firm had already paid a total of N1.42 billion in claims.

Read also: Insurance brokers urged to be proactive on emerging risks

“Broken down; we paid N268.14 million in Group Life claims; N248.79 million in Individual Life claims; N165 million in claims; Esusu took N8.77 million while Annuity was N726.18 million,” she said.

A major attraction at the event was the special lecture titled ‘Solutions Mindset’ was delivered by Kalada Apiafi, chairman, Wider Perspectives Limited.

Apiafi emphasized the place of creativity in coming up with solutions stating that problems are always in abundance whereas very few engage in creative processes that inspire solutions. A raffle draw for all attendees where various prizes were won was the highlight of the evening.

In continuation of its Brokers Roadshow, the company has concluded plans to host the Abuja Area Committee on the 24th of March. The Abuja event will include an Insurance Awareness Walk, a collaboration between the NCRIB Abuja Area Committee and African Alliance Insurance PLC.

Incorporated in 1960 to transact life businesses in Nigeria, African Alliance Insurance PLC has grown in leaps and bounds while providing succour for individuals and aiding businesses across the country for over six decades.

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