The life insurer, African Alliance, disbursed over N1.1bn in claims within the first 58 days of the 12 months.
The insurance coverage agency’s managing director, Joyce Ojemudia, disclosed this in an announcement to Foxiz NIGERIA on Sunday.
She expressed the agency’s dedication to swiftly settling its policyholders’ claims.
“African Alliance stays dedicated to swiftly and professionally settling all legitimate claims, guaranteeing enduring happiness and satisfaction for our valued clients.
“From 2019 to 2023, the African Alliance exemplified this dedication by disbursing a formidable sum of over N40bn. This substantial cost spanned numerous enterprise models, as detailed: group life- N5.1bn; particular person life- N7.5bn, Esusu- N3.4bn; Takaful- N2.8bn and annuity- N21.4bn,” Ojemudia stated.
She reiterated her pledge to stakeholders, underscoring ongoing strategic initiatives to propel the African Alliance to the forefront of Nigeria’s life assurance enterprise.
“These initiatives intend to save a bigger market share while upholding the utmost requirements of integrity and putting buyer satisfaction on the forefront,” she stated.
In December, African Alliance Insurance Coverage Plc stated that its claims costs rose 17 percent from 2020 to 2021.
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