AIICO Partners Wema Bank To Deepen Insurance Penetration

L-R: Mr. Adewale Kadri (Executive Director, Technica, AIICO Insurance Plc.) and  Mr. Dotun Ifebogun (Head, Retail & SME, Wema Bank)

AIICO Insurance Plc, a leading insurance Company in Nigeria has concluded arrangements with Wema Bank to increase access to retail insurance products leveraging on the bank’s robust and efficient retail distribution network.

This follows the recent endorsement by both the National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN) for Bancassurance, a situation where banks are used as distribution channels for insurance products.

Adewale Kadri, Executive Director, Technical of AIICO Insurance Plc. stated that it is another move by AIICO to demonstrate its commitment to increase awareness, access and deepen insurance penetration in Nigeria.“The public can now be linked to AIICO’s bouquet of retail products through Wema Bank’s digital channels anytime and anywhere” he said.

Dotun Ifebogun, Head, Retail & SME of Wema Bank stated that the bank is delighted to be partnering with AIICO on this initiative. He said “both organizations have a shared legacy of trust and resilience that has won the loyalty of customers over decades. We look forward to fruitful outcomes on this endeavour to the delight of our highly esteemed customers and the general public”.

AIICO Insurance Plc., a leading life insurer in Nigeria, commenced operations in 1963. It provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.