life insurance underwriter, African Alliance Insurance, said it has stabilised its business to earn positive reviews from the insuring public.
The company’s Managing Director, Mrs. Funmi Omo, while addressing journalists at a parley organised by the company in Lagos, said African Alliance, has made giant strides in less than two years she took over the management of the company.
She restated the management’s commitment to sustaining the upward growth trajectory across all metrics.
“Ours is a business that has seen it all and survived it all. Our position in just two years compared to now is testament to the unstinting leadership and guidance of our board, the relentless drive of the executive management and a most committed and flexible staff who never shies away from challenges in any form,’
According to her, the firm’s premium income grew by 68 percent from N3.00billion at the end of Q3, 2018 to N5.12 billion at the end of Q3, 2019; while by the end of the third quarter, the firm has also paid claims of about N6billion naira to keep up with its promises of maintaining customer amazement.
Also speaking, the Executive Director, Finance, of the company, Olabisi Adekola, said that the firm’s all-round growth earned it a ‘stable outlook’ and Bb+ by Agusto, foremost financial ratings agency in Nigeria.
“That Agusto rated us Bbb+ is a win for us, considering where we were. But we are not relenting, all hands are on deck to sustain this growth and earn a most elite rating consistent with the elite investments we have made in the business.
On the company’s recapitalisation plans, Omo said: “NAICOM gave a ‘No Objection’ to our plans which means we are on course. Come June 2020, you will see how far we have come. We do not say we are with you for life for fun; we mean every word.”
Meanwhile, the company, in line with its commitment to build a formidable workforce has announced key appointments into its management
Announcing these appointments, Omo, said Akinola Akinwole is now Head, Human Capital, while Bankole Banjo stands as Brand, Media and Communications Manager.
Commenting on the appointments, she said: “Between Akinola and Bankole, we have two of the brightest minds in their fields. We all know a company is as good as the quality of its staff, we have brought in Akinola to help us reshape our workforce and put in place virile learning and development plans for the company.
Bankole, on the other hand, has been hired to help aggregate and drive our brand to greater heights following the recent rebranding. I am delighted to have them on board, they are confirmations that we are doing many things right in African Alliance at this point,” she said.