African Alliance Insurance Pays N780m Annuities To Annuitants

The Interim Management and Board (IMB) of African Alliance Insurance has commenced the payment of all genuine claims and annuities with a N780 million payment in a bold step towards restoring public confidence and repositioning the company for sustained growth.

This payment came barely 30 days after the inauguration of the IMB by the Commissioner for Insurance, Olusegun Omosehin as this significant move underscores the company’s renewed commitment to upholding its core values of integrity, transparency, and customer-centricity.

The new leadership of African Alliance had earlier reiterated its resolve to address all outstanding claims swiftly, ensuring that policyholders and beneficiaries experience the reliability and trust that have been the hallmark of the African Alliance brand for decades.

Speaking on this positive development, the managing director/chief executive of African Alliance, Jacob Erhabor, affirmed the company’s dedication to fulfilling its contractual obligations, saying,’ we are taking deliberate steps to ensure that all genuine claims are paid promptly in the new dispensation.’

“This marks the beginning of a new era for the African Alliance. We understand the importance of trust in the insurance industry, and we are fully committed to rebuilding confidence amongst our stakeholders. The African Alliance will be great again,” he said.

This initiative, he noted, is part of a broader strategic plan to stabilise the company, strengthen its financial position, and enhance operational efficiency even as the management is implementing robust measures to verify and authenticate reported claims with a view to ensuring that only genuine claims are settled by the company.

He encouraged policyholders and other stakeholders to remain confident in the brand as the new management and board work tirelessly to restore African Alliance to its rightful place of prominence and reliability in the Nigerian insurance ecosystem.

African Alliance said it remains steadfast in its mission to provide dependable insurance solutions that cater to the evolving needs of individuals, groups and businesses. With this renewed focus, the company is set to regain its rightful position as a leading player in the Nigerian insurance industry.