African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its efforts to restore public trust and reposition the company for sustainable growth. This development comes just 30 days after the inauguration of the Insurance Market Bureau (IMB) by the Commissioner for Insurance, marking a renewed commitment to integrity, transparency, and customer-centric service. The initiative underscores the company’s determination to address outstanding obligations and reestablish its reputation as a reliable insurance provider.
Jacob Erhabor, the Managing Director and CEO, emphasized the company’s focus on fulfilling contractual obligations and rebuilding confidence among stakeholders. Under the new leadership, African Alliance is implementing robust measures to ensure only genuine claims are paid, aiming to stabilize its operations and strengthen its financial standing. Erhabor highlighted that this move is part of a larger strategic plan to enhance operational efficiency and reassert the brand’s reliability in the insurance market.
Stakeholders and policyholders are encouraged to trust the revamped African Alliance, which remains committed to providing dependable insurance solutions tailored to evolving customer needs. The company aims to regain its leadership position in the Nigerian insurance sector through transparent and efficient service delivery, ensuring a stronger foundation for long-term success.