Article

NOTIFICATION OF DELAY FILING OF AFRICAN ALLIANCE INSURANCE PLC AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Posted on: 12th Apr 2021

African Alliance Insurance Plc (the Company) regrets to notify its esteemed shareholders and other stakeholders that the Company’s audited financial statements (AFS) for the year ended 31st December 2020 could not be filled within the regulatory timeline of 31st March 2021.

This delay was occasioned by the fact that one of the Company’s major offshore subsidiary recently obtained the approval of its Financial Statements from its Regulators, hence, the delay in consolidating the Group’s accounts.

We thus wish to reassure our esteemed shareholders and other stakeholders that the Company is working assiduously towards completing and submitting its Audited Financial Statements and is hopeful to do so on or before 30th April 2021.

Thank you.

ABISOLA AKINRIN
PP: TOPE ADEBAYO & CO. COMPANY SECRETARY

Download press release here

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CORPORATE GOVERNANCE REPORT FOR THE PERIOD ENDED 31ST DECEMBER, 2020

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Download the Corporate Governance Report here

Article

African Alliance Gets Recertified on ISO 22301 for Business Continuity Management

Posted on: 31st Mar 2021

As part of our unending commitment to our stakeholders and customers, we have been recertified by PECB on ISO 22301 for Business Continuity Management (BCM). This certificate was first awarded to us in 2020 by the Professional Evaluation and Certification Board (PECB) which signified that African Alliance Insurance PLC met all the requirements for Business Continuity Management (BCM).

The recertification further confirms African Alliance’s ability to deliver in every circumstance and our commitment to upholding our promise to be with our stakeholders for life.

“For us at African Alliance, our priority is to continue to fulfill our stated obligations to our stakeholders and show our customers that our promise to be with them for life is to be trusted,” said Joyce Ojemudia, our MD/CEO. “I appreciate the continued efforts of the entire BCM team led by our Executive Director, Finance, Olabisi Adekola, and ably managed by the BCM Manager, Patrick Eka-Iloma. Without them, these efforts would have come to naught,” she added.

Our Brand, Media and Communications Manager, Bankole Banjo, in his statement said “For over 60 years, we have taken our responsibility of being Nigeria’s foremost life insurer seriously and the recertification of the ISO 22301 accreditation further assures that we will not become complacent. Our commitment is lifelong.”

ISO 22301:2012 is a globally recognized Business Continuity management standard developed and published by the International Organization of Standardization (ISO). This standard provides a model that organizations of all types and sizes can use in building an effective Business Continuity System. ISO 22301 specifies the requirements for a management system to protect against, reduce the likelihood of and ensure a business recovers from disruptive incidents.

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Joyce Ojemudia: The Marketer-CEO leading the charge at African Alliance Insurance

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Joyce Ojemudia

They say everyone is a salesperson. Indeed, a school of thought argues that if you have a CV or have convinced anyone to do anything for you, then you are a salesperson. But we all know some are natural. For Joyce Adaobi Ojemudia, making sales comes as naturally as having breakfast.

Born in Ibadan to parents of Agbor origin in Delta State, Joyce, as she is fondly called, had her elementary and secondary education in Ibadan before proceeding to the University of Lagos to study Insurance for her Bachelor’s degree, and Risk management for her Master’s degree. An exquisite conversationalist, she started her career as a Marketing Executive at Healthcare International – a subsidiary of NICON Insurance before joining Linkage Assurance Plc as executive trainee in 2002.

At Linkage Assurance, her tenacity and can-do spirit saw her rise rapidly through the ranks and in five years, she was promoted Deputy Head, Marketing. “Linkage Assurance was my proper introduction to sales and marketing. While there, I gave my all to learning the ropes and sticking my neck out even where much-experienced seniors would not want to. The result was that I was entrusted with so much more above my experience but I never minded. I embraced everything and learnt fast enough to become a master of my trade,” she said recently.

Like the proverbial golden fish that cannot be hidden, Staco Insurance soon came for Joyce and she moved on for a chance to widen her network, grow her market and test herself on a different level. At Staco Insurance, she was made Regional Head, a senior position that saw her rub shoulders with established marketers and C-suite leaders. “Staco gave me a chance to spread my tentacles. Everything I had done at Linkage up until then became the launch pad for greatness at Staco. I helped build a strong marketing culture and advised management on various strategies to growing the business. Staco was where the managerial skills that Linkage had instilled in me got sharpened.”

After nine years at Staco Insurance, it was time for Joyce to return to where she calls home, Linkage Assurance, as General Manager, Marketing. “When Linkage called, I could not have said no. It was the ultimate next step for me as a marketer and an ambitious goal getter,” she continued. Her second stint at Linkage was the definitive point of her entire career. As General Manager, Marketing, her task was simply to grow the business. And grow, she did. Records confirm that she helped grow the company’s gross premium by over 80% from N4bn to N7.5bn over two years and improved Linkage’s market share from the 24th to 8th position. Indeed, her leadership ran through the gamut of the company as she instituted a virile and proactive marketing structure across the Marketing team.

When she was appointed the MD/CEO of African Alliance Insurance Plc, Nigeria’s oldest indigenous life insurer, in October 2020, only a few were surprised. African Alliance Insurance had been the legacy insurer that everyone looked up to. From pioneering various products and its leadership inspiring many industry standards, the company needed to boost her sales profile and retain market trust following a successful rebranding, the first-ever in the company’s 61-year-old history. “Assuming the mantle of leadership here at African Alliance was the natural chapter in my career,” she said. And truly, the elements aligned: a company with a strong heritage that needed to grow her market share appointing a renowned insurance sales guru as CEO. It was a masterstroke the Board of African Alliance led by the vibrant ex-banker and financial guru, Dr Anthony Okocha, pulled off.

“To say I am honoured to be the current CEO of this amazing company would be an understatement. The task is huge, but the heritage is bigger. I mean, apart from being the second female substantive CEO, I am the latest in line of the outstanding professionals who have managed this family before me. As you may know, Chief Talabi Braithwaite, our pioneer MD/CEO, is the first chartered insurer in Africa and the pioneer and longest serving President of the Nigerian Council of Registered Insurance Brokers (NCRIB), the elite body of brokers I have worked closely with for years. So stepping into these shoes is both a great honour and a most welcome challenge.”

Already, her focus on claims payment as a veritable tool to growing sales is evident in the N967 Million claims she paid in the first 40 days of 2021 business year. This was in addition to the over N2bn paid in the last quarter of 2020. “For us at African Alliance, we are poised to continue our renewed commitment to fulfilling our stated obligations to our stakeholders. Paying claims as due is therefore non-negotiable,” she said in a statement released earlier in the year.

An Associate Member of the Chartered Institute of Insurance, as well as the Chartered Institute of Economists; Fellow of the Chartered Institute of Marketing, Joyce is one that could be referred to as the Marketer of marketers. Though this is her first role as the MD/CEO of an insurance company, her wealth of experience in senior management, people leadership and team-building have aided her technical learning as she steers the ship of the legacy firm to safe harbour.

Joyce is an ardent believer of the gospel and it reflects in her interactions and her work. She leads the Professional Insurance Ladies Association (PILA) as its current President while she rounds up her Ph.D in Entrepreneurship at the Ayo Babalola University.

Originally published here.

Article

African Alliance Gets Brokers Endorsement as Top Rated Underwriter

Posted on: 17th Mar 2021

The prompt response to claims settlements by African Alliance Insurance has earned her an endorsement by Insurance Brokers as one of the best and top rated underwriting firms in the country to do business with.

The insurer got the endorsement at the Nigerian Council of Registered Insurance Brokers (NCRIB) Evening which held on Tuesday in Lagos.

The President of the NCRIB, Dr. (Mrs.) Bola Onigbogi, whilst elogising the firm for its outstanding performance said: “Let me use this medium to profoundly appreciate African Alliance Insurance Plc team for its unrelenting determination to further deepen relationship with Registered Insurance Brokers, as evidenced by the resolve to host this landmark edition of NCRIB Members’ Evening. Also, I like to officially congratulate Mrs. Joyce Ojemudia for her appointment as the Managing Director of a very progressive firm.

“I have no doubt in the ability of Mrs. Ojemudia to lead African Alliance to a lofty height of achievement. It will delight you to know that Mrs. Ojemudia in her personal capacity contributed towards the success of my investiture in 2019. She was also strong member of my Investiture Committee and she has again proved to us that she is Brokers-friendly.

“I have no doubt today that African Alliance Insurance Plc has etched its name in the golden book of record of Registered Insurance Brokers in Nigeria.”

From left: Vice President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tunde Oguntade; President, Mrs Bola Onigbogi; Managing Director, African Alliance Insurance Plc, Mrs. Joyce Ojemudia; Head of Finance, African Alliance Insurance Plc, Bode and the NCRIB Executive Secretary, Mr Fatai Adegbenro at the February Edition of NCRIB Members’ Evening

The former/first female President of the NCRIB and Managing Director, Plum Insurance Brokers Limited, Mrs. Laide Osijo, also recommended the insurer to the broking fraternity, stating that she has never regretted dealing with the firm on numerous businesses her firm had with the insurer.

She implored brokers to patronise the firm, rating the underwriter as one of the most trusted in the country.

The Chairman, Lagos Council of NCRIB, Rotimi Olukorode, also applauded African Alliance for her prompt response to claims settlement.

He narrated how his old boys association got a propmt payment of a group life cover of a deceased colleague.

According to him, the propmt response had endeared many of his colleagues to insurance. He implored the insurer to sustain the feat.

The Vice President of the NCRIB, Tunde Oguntade, also lauded the insurer for its enormous contributions to the growth of the insurance sector and by extension the economy.

Managing Director/CEO, African Alliance Insurance, Mrs. Joyce Ojemudia, at the event, thanked the President and council members of the NCRIB for giving the firm the opportunity to be the first hosts of the NCRIB members’ evening in 2021.

“Indeed, I thank you for this opportunity and consider it a privilege to stand here today. My profound gratitude also goes to the entire Brokers Community for finding us worthy of this honour especially at this time.

“I stand here as an evangelist of insurance in general and African Alliance in particular. As we all know, African Alliance is Nigeria’s foremost indigenous life insurer, with 61 years of unmatched heritage in the industry. For some time now, we have been the subject of immense attention. This is not unconnected to our pride of place in the comity of insurers in Nigeria as well as our long history with NCRIB with whom we share same progenitor. Our pioneering efforts in product innovation is there for all to see,” she said.

On where the firm was on recapitalisation, she noted that it had highlighted three strategic direction to meet the then NAICOM threshold of N8 billion.

She said the firm is eyeing asset conversion, stressing that on the 22nd of December, 2020, the firm concluded the sale of one of its main assets to raise some funds all of which have been reinvested into the business. We now have a healthy shareholders fund with increased asset base, she added.

Continuing, she said: ” Rights Issue/New Investor;
Furthermore, our Board of Directors as well as targeted significant shareholders are on the verge of injecting additional funds into the company through private placement which will further improve the capital base of the Company. This is expected to be concluded before the end of Q2 2021.

” Business Combination: This would be considered in the event that the two options above don’t come through. However, this is a last resort and we might not explore this option at all.”

Speaking on claims settlement, she said the firm had in the first 40 days of 2021 business year alone, paid N967 million in claims. “Breaking it down, we paid N148.2m to 155 individual life customers, N307.5m to 141 Group Life claimants, N124.1m to 168 Takaful claimants not forgetting , N387.3m to our annuitants.”

She poised that in the last quarter of 2020, the firm paid over N2.3 billion in claims in line with its continued drive for customer satisfaction. “As at today, our GPI has increased by 105 per cent compared with same period last year,” she remarked.

She thanked the brokers for the continued support, stressing that in 2021 and beyond, the firm would continue to excite brokers with stakeholder-focused innovation, constant claims payment whilst using technology to scale operations.

“Our strategy is clear and simple: customer satisfaction at all cost. As you may know, we were recently certified by the International Organization for Standardization and awarded the ISO 22301, a testimonial to our highly effective competitive advantage with respect to organisational reputation, credibility, process, and resilience to environmental volatility. This is an assurance of our business continuity,” she said.

The African Alliance boss noted that the firm had restructured its claims department and customer services unit to give top of the range service to its esteemed customers and that shortly it will be launching a claims app to ease filing of claims with quick response.

Originally posted here

Article

African Alliance Hosts Brokers, Commits to Prompt Claims Settlement

Posted on:

General Meeting

African Alliance Insurance (AAI) has reiterated its commitment to prompt claims settlement to policyholders, pledging to continually collaborate with the Nigerian Council of Registered Insurance Brokers (NCRIB) to raise business patronage.

Managing Director/CEO, African Alliance, Joyce Ojemudia, gave this assurance recently when the underwriter played host to the “Members’ Evening” of the Council in Lagos.
Ojemudia, while appreciating the brokers for their continued support and patronage noted that in the first 40 days of 2021, (AAI) paid N967 million claims to policyholders.
Breaking down the payment, she said, “we paid N148.2 million to 155 individual life customers, N307.5 million to 141 Group Life claimants, N124.1 million to 168 Takaful claimants; N387.3 million to our annuitants and in the last quarter of 2020, we paid over N2.3 billion claims in line with our continued drive for customer satisfaction. As at today, our gross written premium has increased by 105 per cent compared with the same period last year.”

Speaking on the recapitalisation plans of the company, she said the firm was adopting three strategic directions including: Assets conversion, Rights issue/new investor and business combination. According to her, the company last year concluded the sale of one of its main assets to raise more funds all of which have been reinvested into the business while its Board of Directors and targeted significant shareholders are on the verge of injecting additional funds into the company through private placement to further improve the capital base of the company ahead of the exercise due to be concluded before the end of Q2 2021. She however noted that the option of business combination which is the last resort, would be considered in the event that the first two options fail to pull through.

On the company’s focus for 2021 and beyond, she said the firm will continue to excite its customers with stakeholder-focused innovation, constant claims payment whilst using technology to scale up its operations.
“Our strategy is clear and simple: customer satisfaction at all cost. As you may know, we were recently certified by the International Organisation for Standardisation and awarded the ISO 22301, a testimonial to our highly effective competitive advantage with respect to organisational reputation, credibility, process, and resilience to environmental volatility. This is an assurance of our business continuity. “We have also restructured our claims department and customer services unit to give top of the range service to our esteemed customers and shortly we will be launching a claims app to ease filing of claims with quick response.” She thereafter solicited the support of brokers on all fronts especially, on increased business patronage even as the company remains steadfast to its commitment to becoming a better insurer.

Article originally posted here

Article

EXCLUSIVE: African Alliance Poised for positive 2021 Q1 Financials despite Challenges – Joyce Ojemudia

Posted on:

Nigeria does not have a lot of female Chief Executive Officers. But the few ones that are there are doing amazing things. One of them is Mrs Joyce Ojemudia, the CEO of African Alliance Insurance Plc. She was appointed to that position in October 2020. Prior to the appointment, she had worked with other notable insurance companies such as Healthcare International, Linkage Assurance, and Staco Insurance Plc where she held different high-stakes positions. We recently visited her at the office for an exclusive interview. We discussed a whole lot of issues, including her experience with African Alliance over the past five months and the steps the company is taking towards ensuring profitability. She also gave advice to women and young girls who are aspiring to become like her. Enjoy the conversation.

BEA: It’s very nice to meet you, Ma. Can you tell us about your background and experiences prior to joining African Alliance Insurance Plc?

Joyce Ojemudia: It’s my pleasure to host you and your team in African Alliance. I will quickly get to my background. My first degree was in Insurance from the University of Lagos, and then I got a Master’s in Risk Management also from Unilag. I am an Associate Member of the Chartered Institute of Insurance, Associate Member of the Chartered Institute of Economists, and Fellow of the Chartered Institute of Marketing. I am also an alumnus of the prestigious Lagos Business School.

After my National Youth Service Corps, I worked briefly in a company called Healthcare International. They are a pioneer scheme of health insurance in Nigeria. They are actually a subsidiary of Nicon Insurance. After two years (post NYSC), I moved to Linkage Assurance where I served for five years before moving to Staco Insurance Plc as the Regional Head for Lagos South where I served for nine years before I returned home to Linkage.. And I served for three and a half years in Linkage as the General Manager in charge of Marketing, before I began my journey (specifically in October 2020) in African Alliance.

 BEA: It’s been approximately five months since you assumed the position. What has the experience been like?

Joyce Ojemudia: It has been generally a good experience. But it has also been challenging because I joined the company in the middle of a pandemic. But the interesting thing is that we’ve been able to put smiles on the faces of a lot of families by living up to our expectation in terms of claims payment. As you may well know, a lot of deaths have occurred that are related to COVID and African Alliance have had cause to pay claims, precept upon precept on a daily basis. If you look between October through to December (two months since I resumed), we paid N1.3 billion claims. So, I’m glad that we are touching lives and living up to our promise in terms of claims payment.

In the first forty days of the 2021 business year, we have received a lot more claims both in group life and individual life. Because of the time that we are in, we see a lot of people surrounding their policies even before maturity; meaning they want to take their money in bulk to even feed or do whatever they want. In total, we have paid N964 million worth of claims. So, we’ve been able to live up to expectation in terms of prompt  payment of any genuine claim. And I believe that the general public will be very happy with us for living up to the tangibility of insurance itself because the tangibility is the ability to pay prompt claims.

Mrs Joyce Ojemudia CEO of African Alliance Insurance Plc
Mrs Joyce Ojemudia, CEO of African Alliance Insurance Plc

BEA: A lot of people still don’t believe in insurance, especially in Nigeria. And it’s a big problem. How would you convince such people that they need insurance?

 Joyce Ojemudia: I think the major reason a lot of people don’t believe in insurance is because they don’t think insurance firms can actually pay claims. That is why African Alliance has been in the news letting people know about the claims we have paid. The next level we are going  is to have as many customers that are willing to have their testimonials  taken featured in the news. If we continue preaching the gospel of claims payment, before long people will key into insurance policy purchase in Nigeria.

BEA: Let’s talk about this year’s International Women’s Month celebration. As always, the message has been all about women empowerment and challenging the status quo. As one of the few women CEOs in Nigeria today, what would you say are the biggest obstacles preventing more African women from reaching executive positions in the workplace and what can be done to change that narrative?

Joyce Ojemudia: First, whatever glass ceiling that is preventing more women from becoming like me or like the other men out there is in the mind. So, what I will encourage every woman to do is to focus and prepare. Prepare in terms of knowledge base because if you are distinct in what you do, when opportunity comes, they will seek after you. As the President of Insurance Ladies in Nigeria, what I tell my fellow ladies is that preparation and opportunity bring about success. If an opportunity comes and you are not prepared, even if you are the most preferred, you may not be chosen if you don’t have the required skill.

Also bear in mind that we as women are required to work twice as hard as men if we want to be recognized. So, I tell them to be the entrepreneurs in-house. And what that means is that they should be the first to innovate.

BEA: This is a very important job that you have. And like you mentioned earlier, it can be very challenging. I can only imagine these challenges and the demands, especially the need to turn around the company’s financial fortunes. Could you take us through some of the strategies you are adopting towards actualising this?

Joyce Ojemudia: The root cause of the financial challenges we have is the huge cost of claims in our annuity business which has eroded the profitability of the company. Basically, expense in terms of claims, management expense, and marketing expense. But we are looking into that critically and I can assure you that our costs have been brought down significantly in the four months that I’ve been here. We are also making concerted effort to increase our market so as to increase our income.

So, in the first forty days of the 2021 business year, we measured our performance and realized that we’ve been able to grow our Gross Premium Income (GPI) by about 105% as against what we did in 2020 business year. We have also brought down cost by 61%. Also, claims have been reduced by 36%. With these figures, I’m sure that by the end of the first quarter, we will be able to perform better than what we did last year.

BEA: How did the events of last year (the COVID-19 pandemic and the #EndSARS Protests) impact your company’s operation?

Joyce Ojemudia: The pandemic affected the economy globally. But prior to that time, I think we were prepared to work remotely. After observing how the rest of the world was shutting down, we ensured to put all the necessary structures in place just in case of eventuality.

But the preparation notwithstanding, the pandemic did affect some aspects of our business. For our group life arm, we were able to handle online. It was the individual life arm (where our retailers have to go from house to house to market) that got affected. And the lesson we learnt from that is that we can always build on that challenge. So, we are putting a lot of measures in place to ensure that the business processes for the individual life arm can be carried out online as well; so that if the world ever shuts down a second time, we can still do business and do it well without meeting physically with our clients.

The #EndSars protests also affected us because people died and we had to pay a lot of claims. Even the COVID too generally impacted our books in the sense that people also died of COVID. You will see some claims and the death certificate will be COVID.

Mrs Joyce Ojemudia CEO of African Alliance Insurance Plc

BEA: COVID-19 is still a problem even though we are no longer under lockdown. I mean, people are still dying of it. And it’s a new year. What should we expect from your Q1 financials, considering all these militating factors?

 Joyce Ojemudia: Although these variables look like they are going to hamper our performance, I can assure you that we are coming out better. We’ve seen that from the first forty days that we are doing excellently well. And the parameters for business are still looking good. So, based on the statistics/data that we have, we believe that our first quarter result is going to be good.

BEA: Let’s talk a bit more about you, Madam. How do you relax and catch a break from work demands?

Joyce Ojemudia: I do deliberately create time to rest because no matter how much you work, the work never finishes. So, to relax, I get into the gospel arena where I listen to messages either from TBN or from different men and women of God. I also listen to Christian songs because they help me to relax. I do get rhema for the next level on the job while listening to songs. I also read books that can help me build my company and my personal brand. I also use my spare time to learn about how to be a better leader and impact people around me positively.

BEA: There are a lot of young girls out there who are aspiring to become like you. Do you have any advice for them?

Joyce Ojemudia: It takes discipline to become a winner. Winning is inside of you and it starts from home; you can’t just pick it up from the streets. So, ensure to always live up to the lessons and morals you were taught right from home, even when nobody is watching you. While you do that, ensure to also focus. If you have a dream that you are focused and committed to actualizing, nobody what the obstacles you may face along the way, you will certainly actualize them. It also takes a lot of hard work, a lot of commitment, consistency and tenacity. Don’t forget to crown everything with prayers because God looks at the heart and will always grant you your heart desires.

You may watch the full interview with Mrs Joyce Ojemudia here.

Originally published on Business Elite Africa.

Article

African Alliance Hosts NCRIB Members Evening

Posted on: 24th Feb 2021

Joyce Ojemudia

During the NCRIB Brokers Evening hosted by African Alliance Insurance Plc on the 23rd of February, our MD/CEO, Mrs Joyce Ojemudia delivered a speech to all members. She spoke on our continued success, progress on recapitalisation and plans for the future.

See excerpts below,

I stand here as an evangelist of insurance in general and African Alliance in particular. As we all know, African Alliance is Nigeria’s foremost indigenous life insurer, with 61 years of unmatched heritage in the industry. For some time now, we have been the subject of immense attention. This is not unconnected to our pride of place in the comity of insurers in Nigeria as well as our long history with NCRIB with whom we share the same progenitor. Our pioneering efforts in product innovation is there for all to see.

RECAPITALIZATION
We know it will interest you to know what we are doing-especially as it pertains to the elephant in the room, the recapitalisation of our company. We are glad to give you a detailed position this afternoon.

Recall that at several fora, we had highlighted 3 strategic direction to meet the then NAICOM threshold of N8bn. These 3 strategic directions are;

1. Asset Conversion
It delights us to inform you that on the 22nd of December, 2020, we concluded the sale of one of our main assets to raise some funds all of which have been reinvested into the business. We now have a healthy shareholders fund with an increased asset base.

2. Rights Issue/New Investor
Furthermore, our Board of Directors as well as targeted significant shareholders are on the verge of injecting additional funds into the company through private placement which will further improve the capital base of the Company. This is expected to be concluded before the end of Q2 2021.

3. Business Combination
This would be considered in the event that the two options above don’t come through. However, this is the last resort and we might not explore this option at all.

CLAIMS PAYMENT
As many of you now know, in the first 40 days of the 2021 business year alone, we paid N967m in claims. Breaking it down, we paid N148.2m to 155 individual life customers, N307.5m to 141 Group Life claimants, N124.1m to 168 Takaful claimants not forgetting, N387.3m to our annuitants. You will recall that in the last quarter of 2020, we paid over N2.3bn in claims in line with our continued drive for customer satisfaction. As of today, our GPI has increased by 105% compared with the same period last year. Thanks, to all of you, because you made these happen!!
For the year 2020 figures, we are just waiting for the conclusion of the external audit so we can provide information based on audited financials.

GOING FORWARD
In 2021 and beyond, we will continue to excite you with stakeholder-focused innovation, constant claims payment whilst using technology to scale operations. Our strategy is clear and simple: customer satisfaction at all cost. As you may know, we were recently certified by the International Organization for Standardization and awarded the ISO 22301, a testimonial to our highly effective competitive advantage with respect to organizational reputation, credibility, process, and resilience to environmental volatility. This is an assurance of our business continuity.
We have also restructured our claims department and customer services unit to give the top of the range service to our esteemed customers and shortly we will be launching a claims app to ease the filing of claims with a quick response.

We hereby solicit your support on all fronts. Especially, by increased business patronage. Our team is way stronger than ever and we have remained steadfast in our commitment to do better by you, better by our customers and better by the books.

Finally, ladies and gentlemen, the Holy Book says, Trust in the Lord, lean not on your own understanding, in all your ways, acknowledge Him, He will make your paths straight. Our trust is in the Lord, by His grace, African Alliance is rising. With your support, African Alliance will fulfil His divine plan for us.

Thank you for your continued support!

Article

African Alliance pays N967m claims in 40 days

Posted on: 17th Feb 2021

Joyce Ojemudia

As our lifelong commitment, we have continued to fulfil our obligations to our customers with claims payment, we have paid N967m claims in the first 40 days of the 2021 business year.

Our Managing Director/Chief Executive Officer, Joyce Ojemudia, restated our claims commitment in her statement “For us at African Alliance, we are poised to continue our renewed commitment to fulfilling our stated obligations to our stakeholders.

“Paying claims as due, therefore, is non-negotiable. Indeed, the bedrock of a sustainable insurance business is a mutually beneficial arrangement where the insured and the insurer both stick to their obligations to each other without fail.”

“Between the first of January and now, we have paid about N148.2m to 155 individual life customers, N307.5m to 141 group life claimants, N124.1m to 168 Takaful claimants, not forgetting some N387.3m to our annuitants.

“We won’t shirk our responsibilities; we have promised to remain with our customers for life, we will not relent on our oars as we continue to excite our policyholders.”

You can read more about our claims payment here

Article

Notice of the 51st Annual General Meeting of African Alliance Insurance PLC

Posted on: 5th Oct 2020

This is to inform the general public that the 51st Annual General Meeting of African Alliance PLC will hold at our Headquarters, 54, Awolowo Road, Ikoyi, Lagos State on Tuesday (27th of October) at 10 am prompt.

For more information, click here.

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