African Alliance Insurance Plc has disbursed N780 million to annuitants under its new interim management. The payout follows the recent dismissal of the company’s previous board and management by the National Insurance Commission (NAICOM) in October. The regulatory intervention aimed to safeguard customer confidence and ensure the company met its contractual obligations. The new leadership affirms that payments are being made to annuitants with genuine claims, signaling a renewed commitment to reliability and trust.
Speaking on the development, the Managing Director, Jacob Erhabor, highlighted the company’s focus on rebuilding stakeholder confidence and fulfilling its promises. He emphasized that the company is taking deliberate steps to promptly pay valid claims as part of its new operational strategy. This initiative is seen as the start of a revitalization process aimed at repositioning African Alliance as a trustworthy leader in Nigeria’s insurance industry.
The interim board stated that these efforts are part of a larger plan to stabilize the company’s operations, enhance financial stability, and improve efficiency. Measures are being implemented to ensure only authentic claims are settled, while policyholders are encouraged to stay confident in the company’s renewed commitment to excellence. The management is working to restore African Alliance to a prominent and reliable position in the insurance market.
