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African Alliance Insurance @58, grows from single branch to 18

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  • Commences Insurance Investment Campaign
  • Mrs. Funmi Omo celebrates one year as CEO

African Alliance Insurance Plc, Nigeria’s foremost life insurance company with over 35,000 customers, has reached an exciting milestone as it celebrates its 58 years of service on May 6, 2018.

The company has grown from single branch Insurance Company to its current over 18 branches across Nigeria.

It also recently posted encouraging results for the year ended 2017 citing a gross premium income of N6.29bn and a 32.5% growth in the payout of claims from N6.56bn in 2016 to N8.69billion in 2017.

The Managing Director, African Alliance Insurance Plc, Mrs. Funmi Omo, who also celebrated her one year anniversary as the company’s CEO having resumed in May 2017, commended the milestone achievements of the company stating that it is only the beginning of the transformation rolled out by its present management with the approval of the Board.

She said that African Alliance Insurance Plc’s strategic vision and culture of innovation has been sustained since its inception in 1960.

“We are proud of our milestone achievements, but this is only the beginning. As a financial services company with a vision of improving the quality of life in Nigeria, we realise that we cannot achieve this without technology. We are currently working on the complete transformation of our systems and processes to provide excellent services and relevant solutions to our customers,” she said.

She indicated that one of the company’s top priority is establishing a sound corporate governance track record to further establish the confidence of shareholders.

“We have partnered with the foremost accounting and auditing firm, Deloitte & Touche to ensure that all remittances, policies, regulations and deadlines are strictly adhered to. We have also partnered with Ernst & Young for sound technical advice to better position our company. Our shareholders have complete confidence in our ability and commitment to returning value to them and to the society”.

To celebrate the 58th anniversary, African Alliance Insurance Plc has commenced a campaign to educate the public on the value of insurance as a means of increasing and protecting wealth.

The campaign tagged MyFuture10 encourages people to set aside a minimum of 10% of their monthly income for investment with insurance element to take care of their future projects and protect the future of their loved ones.

Serving over 32,000 customers across 18 branches, African Alliance Insurance Plc is the foremost life insurance business in Nigeria, re-positioning itself for the 21st-century business environment.

In line with its founding principle of innovation, the company has embarked on initiatives to provide the utmost value to shareholders, customers, employees and other stakeholders.