Leadway Assurance Commences Verification Exercise for African Alliance

Annuitants

Ebere Nwoji

Leadway Assurance Company Limited, said it has officially commenced a comprehensive verification exercise for all African Alliance Annuitants following the successful takeover of the African Alliance Insurance Annuity portfolio.

The company said the critical validation process was the first step in the transition, designed to accurately identify all existing annuitants and update their records. 

The company said the primary objective of the exercise was to safeguard the immediate welfare of retirees and ensure that every individual’s benefits were secured for efficient and timely payment.

The verification exercise according to the company was a direct response to the regulatory measures introduced by the National Insurance Commission (NAICOM) to protect policyholders and strengthen confidence in the sector. 

The company said by participating in this exercise, retirees under the African Alliance portfolio could transition seamlessly to the Leadway brand, ensuring the continuity of their payments without disruption.

Speaking, Executive Director, Technical and Operations at Leadway Assurance Company Limited, Olufumilayo Amanwa, spoke about the development, saying the verification of annuitants was more than just a process but demonstrated Leadway’s commitment to retirees.

He said the underwriting firm wanted to ensure that their years of service and contributions were rewarded with financial certainty and dignity.  He added that the validation exercise established a solid foundation for timely benefit payments and maintaining the trust placed on Leadway.

She said the transfer followed NAICOM’s intervention in appointing an interim management team as part of the process in settling outstanding annuity payments. 

She said the successful transfer to Leadway not only secures the immediate welfare of annuitants but also represents a broader step toward strengthening Nigeria’s insurance ecosystem.