Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  AIICO Insurance Plc    AIICO   NGAIICO00006

AIICO INSURANCE PLC

(AIICO)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 10/23
0.85 NGN   0.00%
09/23AIICO INSURANCE : Supports Vulnerable Persons
AQ
09/16AIICO INSURANCE : Shifts Annual General Meeting to December
AQ
08/05AIICO INSURANCE : Grows Premium By 26%
AQ
SummaryChartsNewsRatingsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

AIICO Insurance : pays N1.7b claims

share with twitter share with LinkedIn share with facebook
05/13/2020 | 11:59pm EDT

AIICO Insurance Plc paid about N1.7 billion claims within the first 21 days of the COVID-19 lockdown, the Managing Director of the company, Mr Babatunde Fajemirokun has said.

Fajemirokun, in a statement, stated that the claims payment was in fulfilment of their contractual obligations covering claims, benefits, loans, maturity payments.

According to him, the daily volume of transactions is proof that the company's investment in infrastructure for business continuity is worth every kobo and built for the long term.

He said: 'AIICO's Business Continuity Management System (BCMS) is certified using standards set by the British Standard Institute. Our well-motivated employees, who are working remotely, have played a significant role in making things happen.

'In addition to this, we are monitoring the COVID-19 situation closely and its effect on consumer behaviour. As a company with a long obsession for excellent customer experience, we are evolving and adapting to changing customer preferences. Our mode of operation is continually evolving to cater to the needs of existing and prospective customers. We have not only been paying out, we have also been attracting and underwriting new businesses within the period.'

The Executive Director Retail Business, Mr Sola Ajayi, further explained that within the first three weeks of the lockdown, the company paid N907 million in life insurance benefits to 1,441 individual customers and over N480 million to 10,275 annuitants who are on our Life Annuity plan.

For us, commitment is an act, not a word. These are extraordinary times, and we have evolved; we keep producing great results. This is part of the AIICO culture, and it has accounted for our high customer retention rate, he asaid.

The Executive Director, Corporate Business Division, Mr. Adewale Kadri, noted that the company, despite the lockdown, is accepting discounted premium from clients.

'We deliver insurance certificates, including policy documents, within minutes. Over 250 valued brokers have had their claims of over N300 million settled within 48 hours. Our online real-time platform has delighted all our brokers in this regard, and we receive compliments almost daily on our service delivery,' he added.

© Pakistan Press International, source Asianet-Pakistan


share with twitter share with LinkedIn share with facebook
All news about AIICO INSURANCE PLC
09/23AIICO INSURANCE : Supports Vulnerable Persons
AQ
09/16AIICO INSURANCE : Shifts Annual General Meeting to December
AQ
08/05AIICO INSURANCE : Grows Premium By 26%
AQ
07/01AIICO INSURANCE : Why we are divesting our shares in Pension Managers - AIICO In..
AQ
06/25AIICO INSURANCE : to list 4.35b ordinary shares
AQ
06/10AIICO INSURANCE : records N17.6b
AQ
05/29AIICO INSURANCE : records 23% growth in Q1 gross premiums
AQ
05/20AIICO INSURANCE : Posts N50bn Premium
AQ
05/13AIICO INSURANCE : pays N1.7b claims
AQ
05/12AIICO INSURANCE : Partners Chicken Republic
AQ
More news
Financials
Sales 2019 71 986 M 190 M 190 M
Net income 2019 5 784 M 15,3 M 15,3 M
Net cash 2019 7 451 M 19,7 M 19,7 M
P/E ratio 2019 0,87x
Yield 2019 -
Capitalization 11 557 M 30,3 M 30,6 M
EV / Sales 2018 0,03x
EV / Sales 2019 -0,03x
Nbr of Employees 559
Free-Float 72,9%
Chart AIICO INSURANCE PLC
Duration : Period :
AIICO Insurance Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 0,83 NGN
Last Close Price 0,85 NGN
Spread / Highest target -2,94%
Spread / Average Target -2,94%
Spread / Lowest Target -2,94%
Managers
NameTitle
Babatunde Fajemirokun Chief Executive Officer, MD & Director
Kundan Sainani Chairman
Oladeji Oluwatola Chief Financial Officer
Kadri Adewale Abass Executive Director & Head-Technical
Sobandele David Ayodeji Sobanjo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
AIICO INSURANCE PLC41.67%30
ALLIANZ SE-26.14%78 570
CHUBB LIMITED-18.01%57 608
MARSH & MCLENNAN COMPANIES1.77%57 430
ZURICH INSURANCE GROUP LTD-21.73%51 036
HARTFORD FINANCIAL SERVICES GROUP (THE), INC.-34.23%14 317