At AIICO, trust in leadership matters
AIICO Insurance Plc has consistently improved upon the foundation laid by its founders over 50 years ago. In today’s business environment, it is imperative that a market leader such as AIICO Insurance Plc abide by a set of Corporate Governance Codes and Practices which will further reassure all stakeholders that our business practices have been institutionalized and that the Enterprise has been positioned to deliver value to its Stakeholders.
Having adopted the Codes of Corporate Governance set out by both the National Commission for Insurance (NAICOM) in 2009 and The Securities & Exchange Commission of Nigeria (SEC) in 2011, we have been fastidious in adhering to those codes in addition to also evolving certain business practices which have enhanced our Corporate Governance stature and culture.
AIICO Insurance Plc developed a framework for the business which guarantees the independence and authority of both management and Board of Directors. The Board of Directors maintains its oversight function and effectiveness in the discharge of its responsibilities through a number of Board Committees set up for that purpose. These committees are as follows: Board Establishment and Corporate Governance Committee, Board Finance & General Purpose Committee, Board Real Estate Committee, Board Audit Committee and Board Risk Management & Investment Committee.