Number 1 Retail Life Insurer
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AIICO Insurance Plc has assured that it is positioning to go above and beyond, as it promised to also ‘leave no stone unturned’ in its continued effort at ‘creating and protecting its customers wealth and deliver value to its stakeholders.’

This, it declared, has reflected in its year-on-year upward trajectory in performance in both life and general businesses.


A statement signed by the Head, Strategic Marketing & Communications Department, AIICO, Mr. Segun Olalandu, Wednesday, quoted the firm’s management as declaring that 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.

According to AIICO, the company has paid out over N90bn in claims and benefits between 2014 and 2018, resulting in an annual average growth of 27 per cent, all fulfilment of its obligation to its delighted customers.

“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,” declared Babatunde Fajemirokun, the Managing Director & Chief Executive Officer, during a recent engagement with some members of the House of Representatives.


Continuing, the AIICO boss said: “Preparations are on top gear to meet the industry recapitalization 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 is scheduled to be held on March 5, 2020 to get shareholders’ nod to raise additional N3.5bn through rights issue.”

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