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The management of AIICO Insurance Plc has said, it is positioning to go above and beyond, leaving no stone unturned in its effort to create and protect its customers’ wealth and deliver value to its stakeholders. This has reflected in its year-on-year upward trajectory in performance in both life and general businesses.
A statement signed by the company’s Head, Strategic Marketing and Communications Department, Segun Olalandu, disclosed while attributing the phenomenal growth of the firm’s balance sheet to its customer base comprising retail customers across the length and breadth of the nation as well as corporate/institutional businesses from both the private and public sectors.
It further noted that in fulfilment of its obligation to customers, the company has paid out over N90 billion in claims and benefits between 2014 and 2018, resulting in an annual average growth of 27 per cent.
“We value the trust our customers have invested in us. This motivates us to continue to deliver value through our commitment to best practices and operational efficiency for superior customer experience”, the Managing Director/Chief Executive Officer, Mr. Babatunde Fajemirokun, said during a recent engagement with some members of the House of Representatives.
Speaking on recapitalisation plans, the firm stated that preparations are in top gear to meet the industry recapitalisation requirements set by the National Insurance Commission (NAICOM). Besides the private placements recently concluded with investments from LeapFrog (a leading private equity firm), an Extra-Ordinary General Meeting (EGM) is scheduled to hold on March 5, 2020 to get shareholders’ nod to raise additional N3.5 billion through rights issue.
AIICO Insurance Plc. provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.
