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NAICOM Orders African Alliance Insurance Plc To Settle Outstanding Claims - The Revealer
Insurance

NAICOM Orders African Alliance Insurance Plc To Settle Outstanding Claims

Following increased complaints by annuitants and insurance claimants against African Alliance Insurance Plc in respect of the company’s delay and  inability to fulfill its obligations, the National Insurance Commission has given marching orders to the company to resolve and ensure settlement of outstanding claims.

The Commission had summoned the Board of African Alliance Insurance Plc to its headquarters in Abuja recently and ordered the company to settle outstanding payments due to annuitants and claimants.

In addition, the Board of Directors of the company was directed to immediately submit a turnaround plan for addressing the challenges currently faced by the company which necessitated putting the company under the Commission’s Regulatory Order.

Given the heightened challenges, the company should expect further actions if they fail to address the issues within the timeline the company has been given.

The Board assured the Commission that they would act on all the resolutions reached at the meeting. 

The Commission wishes to restate its determination to ensure fair treatment of all stakeholders, enforce professionalism and good conduct amongst its licensed operators.

Edet Udoh

We are The Revealer, a general online news platform based in Nigeria. Our focus amongst others is to provide credible, factual, well researched and balanced news and articles for our teeming readers in business, governments, politics, engineering, science, religion, technology etc. Edet Udoh is the Managing Editor. He is an experienced media person. He has worked extensively with the Champion Newspapers, The Authority Newspapers and the Blueprint Newspaper before starting Revealer Online News platform in 2018. He can be reached with this email address: edetudoh2003@gmail.com or via these phone numbers 08061246427 and 08170080488

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