Press Release

With an average contribution of 24%, agriculture has remained a significant contributor to Nigeria’s GDP. Being the provider of employment for over 60% of the population, agriculture is pivotal to economic development, and more of the efforts to revive the economy, and reduce significantly the level of poverty, should be devoted to energizing the agricultural sector.

The agricultural sector is exposed to extremely high degree of risk arising from natural factors like weather conditions, pests and diseases and other environmental forces. In response to.....  Read More


For confirmation of payments (cash & cheques) made directly to AIICO's bank accounts.

  • Cashiers confirm the payment and updates customer's policy(ies)
  • Receipt is sent via email to the customer/agent
  • Via “Online Policy Renewal” feature:
    1. Make online payments
    2. Automatic policy update
    3. Instant receipt delivery via email
  • To access.....Read More

AIICO Insurance Plc (‘the Company’) is pleased to announce the appointment of Mr. Babatunde Fajemirokun as the “Managing Director/Chief Executive Officer” with effect from August 14, 2019.

This appointment has been approved by the National Insurance Commission. Prior to this appointment, Mr. Edwin Igbiti was the Managing Director/Chief Executive Officer of the Company. He retired on July 11, 2019 after 27 years of meritorious and dedicated service. Mr. Babatunde Fajemirokun started his career in 2001 as a visiting lecturer in the department of Economics & Enterprise at the Glasgow Caledonian University, Scotland. He joined Accenture (Nigeria) Financial Services Unit (Banking and Insurance Groups) in 2003, as an analyst and specialized in Mergers & Acquisitions projects. He joined Capgemini Consulting (UK) Business Information Strategy Unit (cross-industry) in 2008, as a Senior Consultant, and worked on UK government transformation projects......Read More


By: AIICO Insurance PLC | 5/9/2018

AIICO Insurance Plc., a leading Insurance Company in Nigeria has concluded arrangements with Wema Bank to increase access to retail insurance products leveraging on the bank’s robust and efficient retail distribution network. This is following the recent endorsement by both The National Insurance Commission (NAICOM) and The Central Bank of Nigeria (CBN).

Adewale Kadri, Executive Director, Technical of AIICO Insurance Plc. stated that it is another move by AIICO to demonstrate its commitment to increase awareness, access and deepen insurance penetration in....Read More


By: AIICO Insurance PLC | 20/02/2019

As part of efforts to ignite passion for science and technology innovation in Nigerian youths, AIICO Insurance Plc. has donated thousands of mathematical sets and calculators to pupils and students in over thirty Primary and Secondary schools across 6 states of the Federation.

This is in line with the organization’s commitment to promote literacy and to aid the adoption of STEM in Nigerian schools. STEM is a curriculum based on the idea of educating students in four specific disciplines – Science, Technology, Engineering and Mathematics and this campaign is being championed across various climes, including Nigeria. AIICO identifies with this initiative and supports government’s drive to entrench STEM in our schools by encouraging young ones to pursue STEM subjects.

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In line with the company’s preparedness to meet the new minimum capital requirement for the insurance industry, AIICO Insurance Plc has received shareholders’ approval to increase its authorized share capital from N10 billion to N18 billion.
At the Extra-Ordinary General Meeting (“EGM”) which held on Monday, October 14 in Lagos, the shareholders demonstrated their support by voting in favour of this proposition. Speaking at the EGM, the Chairman of the Board, Mr. Kundan Sainani, stated that AIICO has received NAICOM’s No Objection to its recapitalization plan. The company’s recapitalization plan includes a combination of private placement, rights issue and bonus issue.
According to the Managing Director, Mr Babatunde Fajemirokun, the private placement is at an advanced stage with a number of investors. Therefore, the shareholders also approved amendments to the Memorandum of Association to reflect the addition of new investors.

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About Us

AIICO Insurance Plc., is the leading life insurer in Nigeria.

Founded in 1963, AIICO 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.