“African Alliance Insurance Recorded 78% Increase in Q1 Gross Premium. We are in a Strong Financial Position” – MD, Funmi Omo Says

Posted on: 21st May 2019

The Managing Director of Nigeria’s foremost insurance company, African Alliance Insurance Plc, has disclosed that the company recorded a 78% increase in gross premium in Quarter 1, 2019 compared to the same period in 2018.

She disclosed this ahead of the company’s release of its audited financial statements and in response to confirmation on the company’s 2019 target goals.

“African Alliance Insurance has grown strategically in the past year. In the same Quarter 1, we paid claims worth N1.8billion as against N1.5billion in the same period last year. We are in a strong financial position, and our recent investments and decisions back this,” she affirmed.

To further demonstrate its commitment towards financial inclusion and its brand promise to protect the future of every Nigerian, the company recently embarked on a nationwide Takaful campaign aimed at spreading kindness nationwide. The campaign is a call to spread kindness and work together towards achieving life’s goals.

In response to the campaign, one of its customers commented: “Your Takaful services have been excellent. Your account managers remained impressive in relationship management, and most importantly, payment of claims have been prompt. Hence, the reason I have been able to refer more people to get your Takaful Plan over the years”.

The company recently embarked on its first rebranding campaign since its 58-year existence. The rebranding was the first in the company’s history, was led by its MD, Mrs. Funmi Omo in a bid to refresh the brand and align its internal digital transformation to its outward, youthful look and feel. The new logo boasts of two solid shades of blue and diamond shape.

“Life is precious to every one of us. There is no other country in the world where people are resilient and determined to make the most out of life. Our new diamond logo demonstrates how special our customers are to us,” she said.

Mrs. Omo added that the company’s focus on digital transformation will not only boost internal process efficiency but take the conversations to the customers on the digital channels for better customer experience.

“Right now, a customer can take a policy from the comfort of their homes on our website or through social media. It does not get easier than this. Now, our customers do not have to stress themselves to protect their loved ones. The reward for their love is convenience,” she added.

The company has also been active towards its Corporate Social Responsibility (CSR) including its recent activities where the team visited two public schools with gifts.

African Alliance holds Agency Award to celebrate 2018 Achievements

Posted on: 3rd Apr 2019

African Alliance Insurance Plc ended the first quarter of 2019 by holding the Agency Award to reward the commitment and hard work of Agency Managers and representatives across the 18 branches in Nigeria. The Award which honours achievements made in 2018 was held on the 29th of March at the Ibis Hotel Ikeja.

In attendance were the Managing Director, Funmi Omo; Olabisi Adekola, Executive Director and Head of the Finance Department; Wisdom Philips, Chief Information Officer; Ayodele Osisanya, Controller, Chief Risk & Compliance Officer; Duke Enuenweugu, Assistant General Manager, Marketing; Akibode Raji, Deputy Controller, Finance; Alice Amina Uwodi, Deputy Controller HC and Admin; Victor Peters, Deputy Controller, Agency Operations.

Chukwueke Samuel Ifeanyi won the Outstanding Agent in Policy Count; Collins Uchegbu for Outstanding Unit Manager in Policy Count; Adefioye Rahamah, Best Agent in Takaful Premium Income; Rosemary Fasinu, Best Marketer Esusu in Volume of Premium Achieved; Tunde Ogunsola, Best Collector Esusu in Volume of Premium Achieved, Ukaukwu Agency Illupeju for Outstanding Agency in Policy Count.

The biggest winner of the night though, is Mr. Udoh of the Kano agency, who won the Best Agency in 1st year Premium Income and the Best Agency in Renewal Premium Income. Aside from going home with two trophies, two gifts and a cash gift, the Managing Director while giving out Mr Udoh’s award assured that she will double Mr. Udoh’s cash prize. His resilience and commitment to work despite the obstacles he has faced in 2018 is outstanding.

Yesufu Fatimah, who brought in over 18 Million Naira to the company, took home the Outstanding Agency in % (Percentage) achieved on Premium Income award and the third award for the Best three (3) Agency in 1st Year Premium Income.   Fatimah will be accompanying the Managing Director to a conference in South Africa later in the year.

Other winners include Victoria Peter Essien, Best Agents Using 1st Year premium Income; Cynthia Titus Nwanyanwuji, Best Agents Using Renewal Premium Income; Samuel John Akpan, Best Unit Manager in 1st Year Premium Income; Oluwayemis Mary Akhabue-Ojo, Best Unit Manager in Renewal Premium Imcome;  Isa Abubakar, Best Unit Manager in Takaful premium Income.

Rebranding: A Key Component for Longevity

Posted on: 13th Mar 2019

The motive behind African Alliance taking up a new brand identity is borne out of a need to deliver excellent customer service in a bid to remain continually progressive. We realize that rebranding is a necessity for the growth and development of any outfit or organization and hence we have made this decision in order to reposition the company.

The move to rebrand is one that we hope will refresh our company’s mode of operation with our main focus on maximizing customer satisfaction. Rebranding is an audacious action usually set in motion when an organization is at the brink of a new frontier, and we believe that is where we are, at the moment.

What is Rebranding to African Alliance?
Rebranding simply means creating a new brand image or corporate identity.

In this case, we have decided to increase our brand image and perception by changing up a few things like our brand logo, our company colors and design and even our website, which has been tweaked to become even more user-friendly. Partnering with conversionteam.com can help maximize website performance and drive better results through strategic CRO improvements.

Rebranding usually tends to go deeper than just the aforementioned changes and hence other things like boosting customer confidence by meeting and surpassing customer expectation is now more than ever a core goal for us.

We also plan to penetrate the youth market using renewed strategies that will appeal to millennials and the younger generation as a whole. We believe that rebranding will allow African Alliance to run for excellence and very importantly, longevity.

Longevity: An Offspring of the African Alliance Rebranding Process.
Longevity is a key component of rebranding and this is because when a company decides to take on a new image or launch a new identity, it is usually done to match the requirements of a new business era. This for us remains customer satisfaction and boosting confidence in our stakeholders.
Nonetheless, how exactly does rebranding birth longevity?

1. Social & Business Relevance.
Rebranding, when executed properly, will attend to the socially relevant needs of the customers. The times keep changing and any brand who doesn’t scale up the ladder will die. In order not lose relevance we’ve taken a decision not to miss the window to rebrand. Your organization may not stand the test of time once you become socially irrelevant or out of touch with your customers. Therefore, you should look into taking your user experience to the next level by using updated software or other new strategies.

2. Increased Acceptance.
While an organization may have recorded admirable successes over the years, your current brand may not be able to reach a certain audience or unlock a particular demographic and this is another reason African Alliance is rebranding. We plan to expand our reach in the hopes of gaining increased acceptance especially among young people. Note that for any company to stand the test of time, the only way forward is up and that means a continuous growth in the customer base.

3. Trust & Respect.
If your customers or stakeholders can’t trust you to stay up-to-date, they will lose their interest in your brand. People want to know that your brand will always keep things fresh. A brand that is impervious to change cannot grow and we have a concrete understanding of this. African Alliance wishes to gain the trust of its customers and the respect of its stakeholders. What you trust, you will come to respect and we like to believe that this is how long-term relationships are formed and maintained.

Longevity is the desire of any brand, business or organization. After all, is said and done, no company wants to become obsolete or forgotten in a few years. We are a premium life insurance company that has remained at the frontline of insurance in Nigeria and Africa since the 1960s. The struggle towards growing a healthy business or a balanced organization that satisfies the needs of its customers no matter the dispensation has indeed been a tough and competitive one. Nonetheless, it is important to note that the battle for longevity is fought on the field of relevance and only those who make efforts to stay alive will eventually survive.

African Alliance Announces New Corporate Brand Identity

Posted on: 8th Mar 2019

• New Brand Identity Focuses on Delivering Excellent Customer Service Experience

March 8, Lagos, Nigeria: African Alliance Insurance Plc, Nigeria’s foremost insurance company, has announced a new corporate brand identity and refreshed logo. The new identity reflects its focus on delivering excellent customer service, as well as an emphasis on maintaining a strong digital presence. The launch event took place on March 8, 2019, at the George Hotel, Lagos.

The new corporate identity will mark the company’s first major rebrand since its launch in 1960. Since inception, the company has remained a top-tier brand of choice and one of the three leading life insurance companies in Nigeria, offering retail and corporate services to its large customer base. Its new identity features a new logo and new website which may have capitalized on the Must-Have Plugins, following the recent relocation of its headquarters to its current Ikoyi residence.

Speaking at the launch, Managing Director, African Alliance Insurance Plc, Mrs. Funmi Omo, expressed optimism about the company’s focus stating that customers will have begun to experience dramatic upgrades across all service touchpoints.

“The African Alliance Insurance has been serving customers in the life insurance space for sixty years. This shows the depth of trust our customers have in us, and this new and refreshed corporate identity signifies our pledge to continue providing a secure future for every Nigerian in line with our purpose statement,” she said.

Tagged “the diamond” the new logo takes on a diamond shape and reinforces the company’s mantra of life as a special gift to be treasured. The colours remain two shades of blue reinforcing the professionalism of its people. Beneath the logo is inscribed the tag line “With you for life” reiterating the company’s commitment to providing a secure financial future at every point in life.

The event was well attended by

Mr. Tony Okocha, Alhaji Amiun Ahmad Nahuche, Ambasaddor Toye Abiola- Okanlawon, Mr. Tope Oredugba, Imam Abudrrahman Ahmad, Sheikh Muslihedeen Abiodun Kalejaye, Barrister (Dr) Abudul-Hakeem, Abudlateef, Yetunde Ilori  and others.

African Alliance wins service award!

Posted on: 6th Nov 2018

African Alliance Insurance Plc, has won an award of excellence from textile workers, under the aegis of the National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN) at its 40th-anniversary celebration.

As part of the celebration themed: “NUTGTWN@ 40: Repositioning Labour and Industry for the Next 40 years”, the Union honoured the insurance company for assessed excellent service delivery, partnership and tactical contribution to the union.

At the event, which took place at the NECA House Auditorium, Ikeja, Lagos, the President of the union, John Adaji, stated that African Alliance has played a major role in the success of the union.

He commended the company’s prompt responsiveness and implementation of policies that have been instrumental in the success of the union since 2013.

While commending all the brands that have worked with them over the years, Adaji acknowledged the union’s decision to sustain a mutually beneficial relationship with African Alliance Insurance in the last five years.

According to him, when the union decided to get an insurance company, they chose two, including African Alliance, but made the strategic decision to continue with it only because the company showed greater understanding and was willing to give maximum support to its vision.

“We will continue with African Alliance Insurance Plc because they are accessible.

MD, African Alliance Insurance, hosts Town Hall Meeting

Posted on: 6th Jul 2018

The Managing Director, African Alliance Insurance, Mrs. Funmi Omo on Monday, July 2, 2018, held a town hall meeting at the head office in Lagos to review her accomplishments in office.

The event had in attendance all members of staff at the head office as well as representatives from various branches in Lagos.

Reviewing her first 365 days of office, highlights of her achievements are: the design and implementation of strategy documents and internal service level agreements, revise staff handbooks and IT policy.

African Alliance also got an approval of the outstanding 2015 and 2016 year end accounts, established the company’s online presence, by creating an interactive website and active social media/digital accounts, initiate BPR on African Alliance internal processes to improve customer service, and the commencement of the rebranding campaign.

In the past year, we have also been able to improve staff welfare (remuneration), secure a new HO for African Alliance and reform the field force.

Mrs. Omo also received feedback as well as suggestions and strategies for re-positioning the company for greater efficiency and effectiveness within the Nigerian Insurance Industry as well as rendering the company competitive.

The staff reiterated how proud they are of her accomplishments.

Entrepreneur Wins Big, as Foremost Life Insurance Company, African Alliance Insurance, Marks Anniversary

Posted on: 3rd Jul 2018

In celebration of the company’s 58th anniversary, African Alliance Insurance Plc, Nigeria’s foremost life insurance company, has rewarded Nnamani Emeka Henry, a poultry farmer, with N50,000.

Nnamani emerged as the winner of the online giveaway campaign organised by the company. The giveaway was aimed at inspiring entrepreneurs in need of little capital to take their business to the next level within the year. It is also a demonstration of the commitment of African Alliance Insurance to support the life goals of our customers and fans.

African Alliance Insurance Plc also commenced a campaign to educate the public on the value of insurance as a means of increasing and protecting wealth. The winner took advantage of this campaign to grow his income with the African Alliance money appreciation plan and invested N10, 000 from his winning money in a bid to create and multiply wealth. To learn about the money appreciation plan, visit to sign up and multiply your income.

Mrs. Funmi Omo, Managing Director, African Alliance Insurance Plc, who also celebrated her one-year anniversary as the company’s CEO, commended the milestone achievements of the company stating that it is only the beginning of the transformation rolled out by its present management with the approval of the Board. She said that African Alliance Insurance Plc’s strategic vision and culture of innovation has been sustained since its inception in 1960 and the next half of the year will hold surprises for us. More importantly, life insurance, according to her, will be demystified in the next few months.

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Mr. Wisdom Phillips, AGM, ICT Chief Information Officer, Ms. Stella Osanebi Corporate Communications Executive, Ms. Victoria Ebije (representing the winner, Nnamani Emeka Henry), Mrs. Olabisi Adekola, Executive Director, Finance/HR/Admin, Ms. Amina Uwodi, Deputy Controller, HR & Admin, Mrs. Ayo Osisanya, Chief Risk/Compliance Officer & Mrs. Chikodili Labesa, HR Manager.

Ms. Stella Osanebi, Corporate Communications Executive, Ms. Victoria Ebije (representing the winner), Ms. Amina Uwodi, Deputy Controller, HR & Admin & Mrs. Chikodili Labesa, HR Manager.

Ms. Stella Osanebi, Corporate Communications Executive, Ms. Victoria Ebije (representing the winner), Mrs. Olabisi Adekola, Executive Director, Finance/HR/Admin, & Mrs. Ayo Osisanya Chief Risk/Compliance Officer.

3 life insurers dominate market with 50% share

Posted on: 14th May 2018

Three insurance firms have taken control of over 50 per cent of life insurance market share in respect of gross premium received, leaving 24 others to struggle for the left over, New Telegraph has learnt. According to the statistics compiled by the National Insurance Commission (NAICOM), Leadway Assurance Company Limited, AIICO Insurance Plc and African Alliance Company Limited have the dominant market share among the listed 27 life underwriters.

Details revealed that out of a total of N124.56 billion gross premium received by the 22 underwriters, N67.18 billion was received by the three underwriters with Leadway getting N31.58 billion, representing 25.36 per cent market share, AIICO, N22.17 billion summing up to market share of 17.80 per cent while African Alliance got N13.41 billion, representing 10 .77 per cent market share.

Contrary to the dominant posture of the three, NSIA Insurance, ARM Life and embattled UNIC Insurance Plc held the rear with 0.69 per cent, 0.66 per cent and 0.13 per cent with N858.10 million, N827.71 million and N155.92 million respectively.

Following closely to African Alliance is Custodian Life Assurance Limited, which received a gross premium of N12.14 billion, representing 9.75 per cent; FBN Life, N9.90 billion, representing 7.96 per cent; Mutual Benefit Life Assurance Company Limited, N4.12 billion (3.31%); AxA Mansard Insurance Plc, N3.57 billion (2.87%) and Royal Prudential Life Assurance Plc, N3.47 billion (2.79%). Others are Zenith Life Assurance Limited, N3.34 billion (2.68%), Niger Insurance, N3.10 billion (2.49%).

Capital Express Insurance Co. Limited, N2.87 billion (2.31%); Lasaco Assurance Plc, N2.23 billion (1.79); UBA Metropolitan Life Insurance Limited, N2.09 billion (1.68%) and Standard Assurance Life Company Limited, N1.83 billion (1.47). Also included are Cornerstone Insurance Plc, N1.80 billion (1.45%); Industrial and General Insurance, N1.53 billion (1.23%); Ensure Insurance Plc, N1.24 billion (1.00%); Wapic Life Assurance Company Limited, N1.22 billion (0.99%); and Old Mutual Nigeria Life Assurance Company N1.01 billion (0.81%).

The data also revealed those with zero market shares to include Alliance and General Life Assurance Plc, Spring Life Assurance Plc, Goldlink Insurance Co. Limited, Great Insurance Co. Limited, and Nicon Insurance Plc.

NAICOM had revealed that 46 out of the 57 insurance and reinsurance firms had less than two per cent of the insurance industry market share with Leadway having the largest shares both in Life and Non-Life insurance businesses as it also controls 10.69 per cent market share in the Non-Life business. The regulator has been more concerned with the growth of the sector by putting in place reforms to this effect.

Original Article Published Here: NEW TELEGRAPH

African Alliance commences insurance investment campaign

Posted on:

African Alliance Insurance Plc says it has commenced a campaign that will encourage people to boost their investment in insurance.

According to a statement, the firm said this when it reeled out some of the achievements of the company and plans to mark its 58th years of existence.

It stated,

To celebrate the 58th anniversary, African Alliance Insurance Plc has commenced a campaign to educate the public on the value of insurance as a means of increasing and protecting wealth. The campaign tagged ‘MyFuture10’ encourages people to set aside a minimum of 10 per cent of their monthly income for investment with insurance element to take care of their future projects and protect the future of their loved ones.

The company said with over 35,000 customers, it had reached a milestone as it celebrated its 58 years of service on May 6, 2018.

It stated that the company had grown from single branch insurance company to its current over 18 branches across Nigeria, adding that it recorded encouraging results for the year ended 2017.

The company revealed that it recorded a gross premium income of N6.29bn and a 32.5 per cent growth in the payout of claims from N6.56bn in 2016 to N8.69bn in 2017.

It stated that the Managing Director, African Alliance Insurance Plc, Mrs. Funmi Omo, who also celebrated her first anniversary as the company’s chief executive officer having resumed in May 2017, commended the milestone achievements of the company.

She stated that it was only the beginning of the transformation rolled out by the present management with the approval of the board.

According to her, African Alliance Insurance Plc’s strategic vision as well as culture of innovation has been sustained since its inception in 1960.
Original Article Published Here: THE PUNCH

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African Alliance Begins Insurance Investment Campaign to Mark 58th Anniversary

Posted on: 9th May 2018

Nigeria’s foremost life Insurance company, African Alliance Insurance Plc, is celebrating its 58 years of service.

Nearly six decades ago on May 6, the insurer commenced operations and has since then stamped its authority in the industry, boasting of over 35,000 customers at the moment.

From a single branch Insurance company, African Alliance Insurance has grown to its current brand with over 18 branches across Nigeria.

The firm also recently posted encouraging results for the year ended 2017 citing a gross premium income of N6.29 billion and a 32.5 percent growth in the payout of claims from N6.56 billion in 2016 to N8.69 billion in 2017.

To celebrate its 58th anniversary, African Alliance Insurance Plc has commenced a campaign to educate the public on the value of insurance as a means of increasing and protecting wealth.

The campaign tagged MyFuture10, encourages people to set aside a minimum of 10 percent of their monthly income for investment with insurance element to take care of their future projects and protect the future of their loved ones.

Managing Director of African Alliance Insurance Plc, Mrs Funmi Omo, who also celebrated her one year anniversary as the company’s CEO having resumed in May 2017, commended the milestone achievements of the company stating that it is only the beginning of the transformation rolled out by its present management with the approval of the Board.

She said that African Alliance Insurance Plc’s strategic vision and culture of innovation has been sustained since its inception in 1960.
“We are proud of our milestone achievements, but this is only the beginning. As a financial services company with a vision of improving the quality of life in Nigeria, we realize that we cannot achieve this without technology.

We are currently working on the complete transformation of our systems and processes to provide excellent services and relevant solutions to our customers”, she said.

She indicated that one of the company’s top priorities was establishing a sound corporate governance track record to further establish the confidence of shareholders.

We have partnered with the foremost accounting and auditing firm, Deloitte & Touche to ensure that all remittances, policies, regulations and deadlines are strictly adhered to.

We have also partnered with Ernst & Young for sound technical advice to better position our company. Our shareholders have complete confidence in our ability and commitment to returning value to them and to the society,

Mrs Omo added.

Original Article Published Here:BUSINESS POST

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