The Executive Director (Technical) of African Alliance, Wasiu Amao, has said that the company was working on the turnaround plan directed by the National Insurance Commission.
Amao said this recently while responding to concerns about the operations of the firm.
In July, NAICOM mandated the board of African Alliance Insurance Plc to address and settle all outstanding claims from their customers as well as submit a turnaround plan for addressing the challenges faced by the company.
Speaking in a statement, Amao said, “First and foremost, we want to assure all our stakeholders that African Alliance is still very much operational and committed to paying all genuine claims. Annuity payments have also commenced and are being processed diligently to ensure they are completed as soon as possible. We have engaged our customers on multiple channels intimating them on the payment progress. All pending claims will also be honoured in due course, as we are fully committed to resolving these matters.
“We want to put to rest any fears: African Alliance is built to stand the test of time. We are actively working on the turnaround plans requested by the National Insurance Commission and are committed to fulfilling our obligations to all stakeholders.
“Our management team remains intact, and our website is fully operational as part of our ongoing commitment to serving our clients. We are here to stay, and we will continue to strive to provide excellent service and a great customer experience.”
The African Alliance ED also clarified that the firm had not shut down but was closed due to the nationwide protests that began on August 1.
“We temporarily transitioned to remote work to ensure the safety of our staff and clients. However, critical staff were on the ground all through the protest period. Full onsite operations resumed on Thursday, August 8, 2024. We regret any inconvenience this temporary measure may have caused and appreciate the understanding of our stakeholders during this period,” he explained.
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