African Alliance settles N1bn claim

Foremost life insurer, African Alliance, has disbursed over N1.1bn in claims within the first 58 days of the year.

Managing Director of the company, Mrs. Joyce Ojemudia, who disclosed this, expressed the firm’s commitment to swiftly settling the claims of its policyholders.

“African Alliance remains committed to swiftly and professionally settling all valid claims, ensuring enduring happiness and satisfaction for our valued customers.

“From 2019 to 2023, the African Alliance exemplified this commitment by disbursing an impressive sum of over N40bn. This substantial payment spanned diverse business units, as detailed: group life- N5.1bn; individual life- N7.5bn, Esusu- N3.4bn; Takaful- N2.8bn and annuity- N21.4bn,” Ojemudia said.

She reiterated her pledge to stakeholders, underscoring ongoing strategic initiatives aimed at propelling the African Alliance to the forefront of the life assurance business in Nigeria.

“These initiatives aim to secure a larger market share while upholding the utmost standards of integrity and placing customer satisfaction at the forefront,” she noted.

In December, African Alliance Insurance Plc said that its claims payment rose by 17 per cent from 2020.