In this interview with the media the Managing Director and Chief Executive Officer of the Africa Alliance Insurance Plc, forecasts company’s growth for 2024.
YEMISI IZUORA was there for Oriental News Nigeria
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What is your company’s growth plan for 2024
Now looking at 2024, I believe that the market expansion for us is key, so we are going to deepen the market expansion, and grow our GPI geometrically, and right now we’ll be looking at the bottom line too.
Because the economy has posed such a challenge that the surrender value in our books in terms of retail businesses is huge and with that the claim has increased so what we need to do is to do a lot more, put strategy in place to develop products and use technology to drive the business for 2024.
I am sure at the end of 2024 when we will come together for our AGM, profitability and dividends is going to be our word.
What are the expectations from your customers?
To my customers, first and foremost I really want to appreciate them, they’ve been with us for life, sixty three years is not a joke, we appreciate them and everything we are doing and we continue to do is about our customers, to continually bring customers satisfaction to them, in 2024 we are going to do a lot more.
Can you recap activities of 2023?
Thank you so much, if you look at the twelve calendar month of 2023 business year, the business environment have been very volatile, because if you look at the economy and put into consideration of the country.
Especially, for the first, second and third quarter, it was highly unstable, so that destabilized the economy a bit, the interest rate, the naira that was out of circulation for a while, and now the inflation is going to about thirty percent, which is huge, so if you look at the economy generally, we are not going to say that the economy has been very interesting, its something that we are praying that it will improve in 2024 business year.
However with that economy we’ve been able to put a lot of business in place in our company because of the strategy we’ve put in place to edge the foreign exchange before now, so the effect is minimal, because the life fund is actually meant to be invested, and for us it was well invested and edged.