Mr. Babatunde Fajemirokun, Managing Director/CEO of AIICO Insurance Plc
AIICO records N1.3bn monthly payout to annuitants, as customers attest to underwriter’s financial stability
[By VICTOR NZE]
AIICO Insurance Plc, has announced disbursing a staggering N1.3 billion monthly to its customers, including annuitants, providing them with a guaranteed stream of income for their retirement years.
Mr. Babatunde Fajemirokun, Managing Director/CEO of AIICO Insurance Plc
According to the insurer, this highlights the transformative impact of its Annuity product on the lives of its customers, just as the development underscores its commitment to financial security goes beyond offering products.
The company which disclosed this, in a statement, said it continues to foster a growing community of financially empowered individuals, evident in the continuous rise in its growing Annuity customer base, which it added is fuelled, not only by new customer acquisition but also by the trust and positive experiences of existing policyholders, who have referred friends and family to the product.
Attesting to the human impact of AIICO’s Annuity product, one of the underwriter’s annuity customers, Mr. Samuel Ogunremi, expressed satisfaction over his experience with AIICO Insurance since he bought the annuity policy years ago.
“I have been with AIICO since 2012, and I have no cause for regret. People ask me how I have been getting my retirement money every month without disappointment. I always tell them to try AIICO Insurance because they have been paying me without fail. Since I retired, AIICO hasn’t let me down. I always get my payment monthly. So, I am happy to recommend AIICO to others for the same good experience,” Ogunremi said.
Another annuity recipient, Mrs. Ayetunde Aiso, a former civil servant, echoed this sentiment. “Ever since I signed up for AIICO’s Annuity for my retirement, I have always received my payment as and when due – no delays and no stories. I have experienced peace of mind. I have no problem recommending AIICO to anyone who wants to enjoy a peaceful retirement.”
“At AIICO, we understand the importance of financial stability, especially during retirement,” said Mr. Gbenga Ilori, Executive Director and Head of Retail Business at AIICO.
“Our Annuity product is designed to address this very need, offering our customers peace of mind with guaranteed monthly payouts for life. We are proud to be a part of their financial journey.”
Mr. Ilori stated further: “We are confident that the Annuity market holds immense potential, and we are well-positioned to capitalize on this growth. Our robust financial standing and exceptional customer service ensure that our Annuity policyholders receive not only a guaranteed income stream but also peace of mind throughout their retirement journey.”
AIICO’s commitment to its Annuity business extends beyond its existing customer base. Through strategic acquisitions such as the Annuity portfolios of Royal Exchange Assurance and Tangerine Africa, the company has expanded its reach and boosted its footprint and legacy in the Annuity business. Commenting, Mr. Babatunde Fajemirokun, Managing Director/CEO of AIICO Insurance Plc said: “Integrating Tangerine Africa’s annuity portfolio is a key step in AIICO’s growth strategy and our commitment to delivering exceptional value to our customers.
“This acquisition strengthens our annuity offerings and extends our reach, allowing us to provide even greater financial stability and peace of mind to our policyholders.”
