Yemisi Izuora
Leadway Assurance Company Limited has commenced a comprehensive verification exercise for all African Alliance Annuitants following the successful takeover of the African Alliance Insurance Annuity portfolio.
This critical validation process is the first step in the transition, designed to
accurately identify all existing annuitants and update their records. The primary
objective of this 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 the National Insurance Commission (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.
Olufunmilayo Amanwa, Executive Director, Technical & Operations at
Leadway Assurance Company Limited, 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
maintaining the trust placed in us.”
This transfer follows NAICOM’s intervention in appointing 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.