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African Alliance settles N967m claims in 40 days



African Alliance

African Alliance settles N967m claims in 40 days



Foremost life insurer, African Alliance Insurance, has fulfilled obligations to its teeming customers with the payment of claims in excess of N967 million in the first 40 days of the 2021 business year.

This was revealed in a statement obtained from the firm’s Brand, Media and Communications Manager, Bankole Banjo.

Joyce Ojemudia, in the statement, the managing director/chief executive officer of the 61-year-old insurer, restated the firm’s claims commitment to its policyholders.

She said: “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.”

Continuing, Ojemudia broke down the payments across the firm’s business lines, saying “between January 1, 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 claimant, not forgetting some N387.3 million 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.”

Recall that in the last quarter of 2020, the firm had announced payments of over N2.3 billion in claims in line with their continued drive for customer satisfaction.

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