African Alliance Pays N967m Claims in 40 Days

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By Ebere Nworji

The African Alliance Insurance said it paid a total of N967 million claims to its customers in the first 40 days of this year.

The company said this was in fulfillment of its obligations to its customers.

The Managing Director/Chief Executive Officer of the company, Joyce Ojemudia, disclosed this in a statement.

She explained: “For us at African Alliance, we are poised to continue our renewed commitment to fulfilling our stated obligations to our stakeholders.

“Paying claims as due, therefore, is non-negotiable. Indeed, the bedrock of a sustainable insurance business is a mutually beneficial arrangement where the insured and the insurer both stick to their obligations to each other without fail.”

She gave a breakdown of the payment across the company’s business lines saying, “between the first of January and now, we have paid about N148.2 million to 155 individual life customers, N307.5 million to 141 Group Life claimants, N124.1 million to 168 Takaful claimants not forgetting some N387.3 million paid to our annuitants.

“We won’t shirk our responsibilities; we have promised to remain with our customers for life, we will not relent on our oars as we continue to excite our policyholders,” she said.
African Alliance had in the last quarter of 2020, announced payments of over N2.3 billion in claims in line with its continued drive for customer satisfaction.

Incorporated in 1960, African Alliance Insurance is one of Nigeria’s oldest and indigenous life insurer.