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Number 1 Retail Life Insurer
aiicontact@aiicoplc.com 01 270 2930 0700 AIIContact (0700 2442 6682 28)

The Number 1 Retail Life Insurer.

Our values and culture of professionalism and service excellence has earned us this leading position.

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Giving you peace of mind by keeping our promises.

We have been providing stability and reliability to our customers since 1963 to help them live their lives with confidence, to give them peace of mind, and enable them to realize their dreams for their loved ones and their legacy.

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Need a cover as an individual or corporate body?

Our products are made specially for you. Get access to fully customised portfolios and a range of solutions developed by our experts. We offer a wide range of products and services which are tailored towards our customers' needs.

Agricultural Industry

We offer protection for building, livestock and crop to give you peace of mind

Employer's Liability

Cover your valued employees should anything happen to them at work

Group Life Plans

Show you care when it matters most to your employees with tailored plan

Manufacturing Industry

We offer a wide range of products to protect your industrial concerns

Annuity Plans

Leaving a legacy is what many work daily to achieve and 

Auto Insurance Plan

Accidents happen that’s why we have seatbelts, airbags, bumpers

Covid 19 Plan

An industry-leading plan that covers your expenses during the pandemic

Endowment Plans

Leaving a legacy is what many work daily to achieve and 

Why AIICO Insurance?

Our culture of innovation, service excellence and superior financial performance differentiates us. We offer a wide range of products and services which are towards meeting the needs of our customers.

  • Leading industry player with over 50 years of heritage in prompt claims payment
  • Products tailored for Nigerian customers with great coverage
  • Our products not only save you money but some are even tax-exempt.

From the MD/CEO to you...

Dear Esteemed Customer,
On behalf of the Board, Management and Staff of AIICO Insurance Plc., I would like to thank you for being part of our journey through the year 2021. Despite the numerous challenges encountered, your continued relationship with us was pivotal to our success.
We understand how difficult it is adjusting and adapting to changes, given our world's various torrent of challenges today. However, we are proud that you have chosen us as your dependable partner to help manage your uncertainties. Be assured that our commitment to you remains solid – driving wholesome peace of mind through a dynamic, highly motivated workforce and innovative technology.
 

Our numbers speak; AIICO is making impact!

Our milestone achievements as at 2022, shows you why we would continue to be a leader in the Insurance Industry.

Trusted by leading brands  

We are change agents trusted by our customers ranging from individual to renowned players of industries.

From Our News Desk

Read through our latest stories and company statements, watch videos and explore news coverage about us and our subsidiaries and stay up to date by signing up to receive email alerts.

March 11, 2024 IWD 2024 at AIICO: A Day of Career Guidance, Creative Expression, and Entrepreneurial Empowerment

IWD 2024 at AIICO: A Day of Career Guidance, Creative Expression, and Entrepreneurial Empowerment AIICO Insurance Plc., a leading insurer

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January 31, 2024 AIICO Insurance Shines Spotlight on Top Performing Agents at Awards Ceremony

AIICO Insurance Shines Spotlight on Top Performing Agents at Awards Ceremony Frontline insurance company, AIICO Insurance Plc, has further

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December 19, 2023 Infracredit Admits AIICO Insurance Plc As Its Second Domestic Institutional Investor

Infracredit Admits AIICO Insurance Plc As Its Second Domestic Institutional Investor Lagos, 29 November 2023: InfraCredit, a ‘AAA’ rate

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Accreditation/Standards Certifications

AIICO Insurance

Established in 1963, AIICO Insurance Plc (NSE Ticker: “AIICO”) is a financial services group with market-leading positions in its key business lines; Insurance, Health Maintenance and Asset Management.

  1. Life assurance and annuity
  2. General insurance and special risks
  3. Health insurance and
  4. Asset management

Background

AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The Company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited – as a wholly owned subsidiary of ALICO/AIG – in 1970 – to offer Life and insurance services. The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria, and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG divested.

  1. Life and general insurance are strategic business divisions within AIICO
  2. AIICO Capital Limited – a subsidiary of AIICO providing asset management services for AIICO and 3rd parties
  3. AIICO Multishield Limited – a leading health maintenance organisation

Following the insurance industry's consolidation in 2007, the Company acquired NFI Insurance PLC and Lamda Insurance Company Limited (both cumulatively accounting for less than 30% of AIICO's pre-acquisition gross premiums). The Company subsequently re-certified as both a General Insurance and Life Assurance Company – taking advantage of its legacy, brand, franchise and strong retail distribution network to grow a leading General Insurance business.

Our Goal

As an insurance company, AIICO's goal is to be the insurer of choice and the leading insurance company in Nigeria – providing life insurance and retirement services as well as risk underwriting to a substantial and diversified client base, which includes corporations, financial institutions, governments and individuals in Nigeria.

AIICO is the market leader in Retail Life insurance and retirement services and is a market leader in Non-Life insurance in Nigeria. The core insurance franchise is complemented by our leading insurance asset management, and health management businesses.

AIICO also owns valuable financial and strategic assets including a controlling stake in Multishield Limited, and a 19% stake in Healthcare International Limited (both healthcare management organizations (“HMOs”)), and AIICO Capital Limited (an asset management wholly-owned subsidiary).

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