African Alliance Insurance says it paid claims in excess of N967 million in the first 40 days of the 2021 business year.
The firm’s Brand, Media and Communications Manager, Mr Bankole Banjo, said in a statement on Monday in Lagos that the payment was in fulfilment of the insurer’s obligation to its teeming customers.
Mrs Joyce Ojemudia, Chief Executive Officer of the foremost Life insurer also said in the statement that the firm was committed to paying claims of its policyholders.
“For us at African Alliance, we are poised to continue our renewed commitment to fulfilling obligations to our stakeholders.
“Therefore, paying claims as due, 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 said.
Ojemudia explained that between Jan. 1 and now, the company has 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 and N387.3 million to annuitants.
“We won’t shirk our responsibilities; we have promised to remain with our customers for life and we will not relent on our oars as we continue to excite our policyholders.
“Recall that the firm had announced payments of over N2.3 billion as claims for the last quarter of 2020 in line with its continued drive for customer satisfaction.
Incorporated in 1960, African Alliance Insurance is Nigeria’s oldest and indigenous life insurer.