Posted on: 2nd Feb 2023
Award Winner of “Claims Excellence Insurance Company of the Year 2022” awarded by Banks and Financial Institutions (BAFI), continuously demonstrates its unmatched leadership in the settlement and payments of genuine claims by paying N25.7B in 3 years.
African Alliance, the foremost Life Insurer, has consistently increased claims payment by 17% year on year since 2020, with a total of N25.7 billion paid over three years. In 2020, African Alliance paid out over N7.1 billion in claims, which increased to N8.3 billion in 2021, and a whopping N9.7 billion in 2022.
The breakdown of 2022 shows N4.26 billion paid to annuitants, N1.76 billion in Group Life claims, N1.84 billion in Individual Life claims, N714 million in Takaful payouts, and N1.1 billion in Esusu payouts.
The company continues to make remarkable progress, having successfully paid over N573 million in January 2023 YTD, demonstrating its reliability with evidence of excellence in claims settlement.
As stated by Mrs. Joyce Ojemudia, Managing Director and CEO of African Alliance Insurance Plc, “We understand the importance of prompt claims settlement and we remain steadfast in our resolve to deliver on our promises to our valued clients.”
African Alliance Insurance Plc a foremost life insurer and leader, has distinguished itself in the insurance sector, for its cutting-edge products, top-notch customer service, and dedication and commitment to excellence.
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