AIICO Insurance Disburses N1.3bn Monthly To Annuitants

AIICO Insurance Plc has said it is disbursing an outstanding N1.3 billion annuity payment to annuitants as a pledge to prompt customer service delivery.

The insurer disclosed this at its recently held second edition of the Annuitants Forum,, reflecting AIICO’s dedication to supporting and nurturing a strong relationship with those who have entrusted the company with their financial security in retirement.

Speaking at the event, its managing director/CEO, Babatunde Fajemirokun stated that, AIICO don’t just provide products, it provides security, stability, and a future that allows customers to thrive, saying, ‘our commitment goes beyond paperwork and contracts; see our roles as helping you enjoy the fruit of your labour in a manner that is dignifying and empowering.’

Disclosing that the company’s annuity customer base has steadily grown over the years and continues to increase, forming part of a strong and thriving community, he added that its annuitants are not just customers, but members of the AIICO family.

“In terms of financial performance, we disburse an outstanding N1.3 billion per month, ensuring that each one of you receives a guaranteed income stream, regardless of market fluctuations. This consistency is the hallmark of AIICO’s stability,” he added.

On his part, the head of Retail Business Division at AIICO, Mr. Gbenga Ilori, said, the company believes in actively listening to customers rather than making assumptions from behind its desks, assuring that the forum is designed to engage them directly, allowing AIICO to truly understand their needs and preferences.

To him, “It’s our way of ensuring that we’re not just meeting their expectations but exceeding them. By hearing their feedback firsthand, we can identify any gaps, address concerns, and continually enhance the quality of our service. Their satisfaction and well-being are our top priorities, and we are committed to serving them in the best way possible.”

A retired deputy controller with the Nigerian Customs Service and president of the Retired Customs Officers Association of Nigeria, Chief A. A. Iguoba, expressed his satisfaction with AIICO, commending the company for its dedication and service as his annuity provider.

Similarly, another annuitant,  Gloria Jideonwu stated that, “This is my 5th year with AIICO. I retired from the Nigerian Security Printing and Minting Commission. A colleague introduced this annuity to me and also recommended AIICO specifically, due to its consistency. Since I joined, AIICO has paid regularly – they don’t fail. “

The retirees had the opportunity to provide feedback on their experiences so far and were able to ask questions and seek clarifications on grey areas. The company has assured its annuity customers that this face-to-face opportunity will be held annually; while the customers have a plethora of other channels to stay in touch with the company on a constant basis.