AIICO Insurance Plc says it will continue to create wealth and ensure appropriate protection for its customers and stakeholders.
A statement from the firm said its commitment to creating value had reflected in its year-on-year upward trajectory in performance in both life and general businesses.
“The phenomenal growth of AIICO’S balance sheet has a direct correlation to its customer base which comprises retail customers across the length and breadth of the nation and corporate/ institutional businesses from both the private and public sectors,” it stated.
AIICO said in fulfillment of its obligation to its customers, the company paid out over n90bn in claims and benefits between 2014 and 2018, resulting in annual average growth of 27 percent.
The statement said the Managing Director & Chief executive Officer, Mr. Babatunde Fajemirokun, said this during a recent engagement with some members of the House of Representatives.
“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,” he said.
Besides the private placements recently concluded with investments from Leapfrog (a leading private equity firm), the statement added that an extra-ordinary general meeting had been scheduled to hold in March, to get shareholders’ nod to raise additional N3.5bn through a rights issue.