Leadway Assurance Company has announced the commencement of a comprehensive verification exercise for all African Alliance annuitants following the successful takeover of the African Alliance Insurance Annuity portfolio.
In a statement on Monday, the insurance firm said that the validation process is the first step in the transition, designed to accurately identify all existing annuitants and update their records.
Leadway Assurance had taken over the annuity portfolio of AAI after the National Insurance Commission intervened and appointed an interim management team as part of the process in settling outstanding annuity payments.
The successful transfer to Leadway not only secures the immediate welfare of annuitants but also represents a broader step toward strengthening Nigeria’s insurance ecosystem.
The underwriter said that the objective of the verification exercise is to safeguard the immediate welfare of retirees and ensure that every individual’s benefits are secured for efficient and timely payment.
The verification exercise is a direct response to the regulatory measures introduced by NAICOM to protect policyholders and strengthen confidence in the sector.
By participating in this exercise, retirees under the African Alliance portfolio can transition seamlessly to the Leadway brand, ensuring the continuity of their payments without disruption.
The Executive Director, Technical & Operations at Leadway Assurance Company Limited, Olufunmilayo Amanwa, spoke about the development, stating, “The verification of annuitants is more than just a process; it demonstrates our commitment to retirees. We want to ensure that their years of service and contributions are rewarded with financial certainty and dignity. The validation exercise establishes a solid foundation for timely benefit payments and maintains the trust placed in us.”
All African Alliance annuitants are encouraged to utilise the customer support line, email and offices to validate their information quickly and seamlessly.
The PUNCH reports that Leadway Assurance is one of Nigeria’s leading insurance companies, providing a wide range of financial protection services, including life insurance, general insurance, and other financial solutions.
