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African Alliance Pays N6bn Claims In Q3, Vows To Sustain Upward Growth

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L-R: Brand, Media and Communications Manager, Bankole Banjo; Head, Human Capital Management, Akinwole Akinola; Managing Director/Chief Executive Officer, Funmi Omo; Olabisi Adekola, Executive Director, Finance; Head, Group Life Business, Azuka Ochonogor and Marcel Okorie, Head, Individual Life all of African Alliance at a recent press parley.

By LOVETH AZODO

In a bid to keep up with its promises of maintaining customer amazement, African Alliance has revealed that it has settled N6 billion worth of claims at the end of Q3, 2019.

At a press parley held at the company’s headquarters in Lagos, Funmi Omo, Managing Director and CEO, African Alliance, while listing the giant strides the firm has made in less than two years, restated the management’s commitment to sustaining the upward growth trajectory across all metrics.

“Ours is a business that has seen it all and survived it all. Our position in just two years compared to now is testament to the unstinting leadership and guidance of our Board, the relentless drive of the executive management and a most committed and flexible staff who never shies away from challenges in any form,’ Omo said.

According to a statement obtained from the company, the firm’s premium income grew by 68% from N3.00billion at the end of Q3, 2018 to N5.12 billion at the end of Q3, 2019

In her submission, Olabisi Adekola, Executive Director, Finance, added that the firm’s all round growth earned it a ‘stable outlook’ and Bb+ by Agusto, foremost financial ratings agency in Nigeria. “That Agusto rated us Bbb+ is a win for us, considering where we were. But we are not relenting, all hands are on deck to sustain this growth and earn a most elite rating consistent with the elite investments we have made in the business.

On the company’s recapitalisation plans, Funmi Omo said: “NAICOM gave a ‘No Objection’ to our plans which means we are on course. Come June 2020, you will see how far we have come. We do not say we are with you for life for fun; we mean every word.”

Also, In line with her commitment to build a formidable workforce and grow the overall brand image, foremost life insurer, the 59year old insurer announced key appointments into its management cadre.

Omo announced the appointments of Akinola Akinwole as Head, Human Capital and Bankole Banjo as Brand, Media and Communications Manager.

“Between Akinola and Bankole, we have two of the brightest minds in their fields. We all know a company is as good as the quality of its staff, we have brought in Akinola to help us reshape our workforce and put in place virile learning and development plans for the company. Bankole, on the other hand, has been hired to help aggregate and drive our brand to greater heights following the recent rebranding. I am delighted to have them on board, they are confirmations that we are doing many things right in African Alliance at this point,” she said.

Akinola Akinwole is an astute, resourceful human resources professional with demonstrated successes strategic HR management, organisational capability and change development, Talent Acquisition and Management amongst others. An alumnus of KPMG, Akinola joins African Alliance with 16-years’ cognate experience spanning HR consulting and financial services.
Bankole Banjo, on the other hand, is a transmedia brand storyteller with a decade’s experience across advertising, content creation, brand and media management, corporate communications and storytelling.

He has lent his creative expertise either as a copy manager, creative director or brand management executive to a myriad of brands across sectors including Toyota Nigeria, Star Lager beer, Samsung Electronics West Africa and FBNInsurance. Until recently, he was Communications Specialist at a coalition committed to changing the health narratives of Africa.

African Alliance is a publicly quoted life insurance company incorporated in 1960. The firm operates out of the corporate headquarters in Ikoyi, Lagos as well as in 18 branches nationwide.

Earlier in the year, the firm was rebranded for the first time in its 59 years history in line with the management’s desire to refresh the brand and reposition it for growth.

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