Read How African Insurance Company Is Paying Big 


Most insurance companies in Africa don’t keep to their obligation but a company, African Alliance Insurance Plc have stand out, paying billions as dividend.

It was gathered that at the start of January in 2022, the company paid over a total of N723.96 million to policyholders.

The preceding year,  January to December 2021, a total sum of N7.59 billion was paid as dividend.

Elanza News gathered that in the year 2022, more billions will be paid as dividend to customers and shareholders, making it the most outstanding insurance company paying huge in Africa.

The Managing Director/Chief Executive Officer of African Alliance Insurance, Joyce Ojemudia, said in year 2022, N14.4 billion capital have been injected to meet the new recapitalisation requirement.

This means that investors and shareholders will have more value for their money in the year 2022.

It was gathered that African Alliance Insurance Plc is increasing its capital base on issues targeted at significant shareholders, which will allow investors to invest into the company.

It was gathered that  African Alliance Insurance Plc has paid a total sum of N1.23 billion in individual life, N1.36 billion in group life, N626.48 million in takaful and N4.35 in annuity.

In 2021, the focus of the insurance company was on a retail marketing expansion strategy.

This strategy, led to the opening of offices in Abeokuta, Ogun State, and Akure, Ondo State.

In 2022, Elanza News gathered that the focus will be on Northern Nigeria where they have established a presence in Ilorin, Kwara State, Jos, Plateau State and now looking for other prospective locations.

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