AIICO Insurance Plc, says its commitment to a strong, healthy, and bubbling insurance market remains unalloyed, hence the push to deepen insurance penetration, education and awareness in the country.
The merry reach to raise the insurance bar was shared by the managing director, Mr. Babatunde Fajemirokun, he spoke through Mr. Olusanjo Shodimu, Divisional head, shared services, at a breakfast meeting with the executives of the National Association of Insurance and Pension Correspondents, in Ikeja, Lagos.
Fajemirokun said AIICO would be in the fore-front of insurance awareness and sustain its collaboration with NAIPCO to achieve that.
Fajemirokun said insurance has already gained several swaths of business space by the several billions it pays yearly, with AIICO being one of the leading underwriters in the area of prompt claims payment.
On the company’s recapitalisation, he said the company had made a mark as a set company to invest in, and recast the previous equity stake of International Finance Corporation (IFC), a proof of its corporate integrity; and now Leapfrog Investment as its major investor with 28.24% while AIICO Bahamas Nigeria Limited now holds 10.59%, this has raised its capital to N11.3b from previous N6.1b.
To put a seal of completion on the capital raise, the firm opened N3.5b rights issue September 2, and will close October 7. He asserted that the company would meet the staggered recapitalisation deadlines of December, 2020 and September, 2021 respectively. Woven into this its IT platform which gives customers the best insurance experience.
Gliding on the stealth expression of the AIICO helmsman, head, strategic marketing & communications department, Mr. Segun Olalandu, said the company would sustain its information dissemination on products and services and making making public its claims payment, and also continue to give back to the society through its Corporate Social Responsibility.
Earlier, the NAIPCO chairman, Mr. Chuks Okonta, applauded the company for the support extended to the association in the past, and implored the company not to relent but do same with the current executive of the association.