AIICO Insurance assures that if you are in search of an insurance firm that you can trust, it will serve you and ensure that you are not disheartened.
Managing Director, AIICO Insurance, Edwin Igbiti, stated this in a chat.
He said the company aims to be the leading provider of financial services that cater to both individual customers and organisations.
‘’Our expertise in the industry is a testament of our commitment to great service and a culture that thrives on innovation and passion,’ Igbiti said.
“Over the years, we have remained dedicated to developing our people, strengthening our operational efficiency, and building trusting relationships with our clients and partners.
“We aspire to create consistent value for our customers and stakeholders and will continue to improve on key indices such as prompt claims payment, proactive risk management and competitive pricing”, he added.
Our Testimonials
Income investment plan: AIICO’s Benefits team was notified of a death claim on an investment policy two days after the insured commenced his policy. We provided the family with all the details and documentation; thereby, ensuring smooth payment shortly after.
The benefactor expressed appreciation and surprise at our prompt service and payment, which lessened the financial burden for the burial.
Fire & burglary policy: AIICO’s Property Claims team was notified of a fire incident at an insured’s factory. An adjuster was immediately assigned to inspect the site, ascertain the extent of damage, and determine the time required to repair the damage.
AlICO acted promptly in line with the terms and conditions of the policy. The insured was indemnified and the factory was able to resume production.
Aiico auto policy: Auto Claims team received a claim report about an accident, which led to the total damage of the back bumper of our insured’s car.
The claims team worked with the insured for necessary documentation. Our technical experience and knowledge allowed us negotiate with the relevant parties, and we returned the fixed car after a short while. This, in turn, meant lower claims costs for our clients.
OUR STORY
AIICO started operations in Nigeria in 1963 as an agency of American Life Insurance Company (ALICO) —a subsidiary of American International Group (AIG) at that time.
The company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited as a wholly owned subsidiary of ALICO/AIG in 1970 to offer Life and Pension products and Insurance services.
It was later renamed American International Insurance Company Limited (AIICO) upon the acquisition of a 60 per cent stake by the Federal Government, and later listed on the Nigeria Stock Exchange (NSE) in 1990, after which both shareholders divested.
Following the consolidation of the insurance industry in 2007, the company acquired NFI Insurance Plc. and Lamda Insurance Company Limited (both cumulatively accounting for less than 30 per cent of AI ICO’s pre-acquisition gross premiums). The company, subsequently, recertified as both General Insurance and Life Assurance Company, taking advantage of its legacy, brand, franchise and strong retail distribution network to grow a leading General Insurance business.
To take advantage of the opportunities presented by the Pension Reform Act of 2004, AIICO Pension Managers Limited (APML) was incorporated in February 2005 and licensed in April 2006 as a Pension Fund Administrator (PFA) by the National Pension Commission (PenCom), and commenced operations in May 2006. AIICO also owns valuable financial and strategic assets including a controlling stake in AIICO Multishield Limited and a 19 per cent stake in Healthcare International Limited, both Healthcare Management Organisations (HMOs), and AIICO Capital Limited, an asset management wholly-owned subsdiary.
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