Page Transparency See More. [READ MORE: Stanbic IBTC releases FY 2019 unaudited results) Profit before tax for … To receive a Cash Consideration of N2.90 for each ordinary share of N0.50 held in Portland Paints as at close of business on the Terminal Date. Community See All. American International Insurance Company (AIICO) Insurance Plc. Lagos Nigeria, 30 September 2020 – Global Credit Ratings has today placed AIICO Insurance Plc’s national scale claims paying ability rating of A (NG) under review. Mr. BabatundeFajemirokun, the Managing Director/CEO, stated that the riots have had tremendous effect on individuals and businesses, both small and large. The statistics represents an average … READ: AIICO increases authorised share capital to N18 billion. AIICO Insurance Plc is leading other underwriters in claims payment as it paid N10.18 billion to claimants last year. Lagos Nigeria, 18 January 2021 – Global Credit Ratings has affirmed the national scale financial strength rating assigned to Custodian Life Assurance Limited of A(NG), with the outlook accorded as Stable. All contracts of the Company shall continue to be in force and effect in accordance with their respective terms and conditions, and CAP shall assume all rights and obligations of the Company under all such contracts. participants. From left:Head, Strategic Marketing & Communications, AIICO Insurance Plc, Segun Olalandu; Senior Manager, South West Zonal Office, National Pension Commission, Lanre Ogedegbe, who represented the winner, Head, Corporate Communications, PenCom, Peter Aghahowa and Senior Manager, South West Zonal Office, Ladi Ishola at the event at the weekend in Lagos. GCR has in place secure technological platforms that will enable the best possible remote engagements with our rated issuers, the investor community and all other market AIICO insurance customer care is available by phone Monday through Friday, from 8:00 am to 5:00 pm. importance to us. It was also backed by existing investors — Founder Collective and TLcom . AIICO Insurance. AIICO Insurance Plc, a leading insurer in Nigeria has recorded a 126% subscription of its recently concluded rights issue, in what seems to be another giant leap forward in its recapitalization journey. Check insurance claims to solidify trust and safeguard the reputation; Frequently replenish job-specific knowledge and apply it on the field; Fulfill all company-established policy obligations; Job Requirements: Proven experience as an insurance sales representative According to Mr Sola Ajayi; Executive Director Retail Business, “Within the first 3 weeks of the lockdown, … Read also; Reps Pass Increased 2020 Budget of N10.805 trillion, Approves $5.51 billion New Borrowing The entire share capital of the Company shall be cancelled, and the Company shall be dissolved without being wound up. AIICO Insurance Plc. Not Now. READ: Flutterwave, One pipe, and funding raised by Nigerian Tech startups. Despite the disruption caused by COVID-19 East Africa remains the continent’s fastest-growing region. The company was later renamed “American International Insurance Company Limited” due to … The Judicial Divison of the Federal High Court has approved the proposed scheme merger between Chemical Allied Products Plc and Portland Paints Plc, and other matters connected therewith. We are recruiting to fill […] The ratings are valid until October 2021. ... All legal proceedings, claims and litigations pending or contemplated by or against the Company be continued by or against CAP. This CP was halted by the COVID-19 pandemic. This funding will be deployed to power uLesson’s expansion into Eastern & Southern Africa, as well as secure new talent and build its product development and production infrastructure. Commenting on the quotation of the issue, the Managing Director of Total Nigeria, Mr Imrane Barry, explained that: In his remarks, the Managing Director, Valency International Pte Ltd., Mr Sunil Dhanuka, said: googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Concurrently, the following rating action was taken: Lagos, 15 January 2021 — Global Credit Ratings has upgraded the national scale long term Issuer rating of Ondo State Government of Nigeria to BBB(NG), with the Outlook accorded as Stable. FRIDAY, ͹΀˜ ͺ͸ͺ͸ ˾ T H I S D AY. The health and well-being of our staff members and all our stakeholders is of the utmost This site uses Akismet to reduce spam. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion. - Joe D. from Philadelphia, PA "I love the down payment option. AIICO Insurance PLC, has stated its readiness to meets its obligations to customers who have policy covers for incidents that occurred during the recent riots. Claims. 08168235772. www.aiicolive.com +234 816 823 5772. ... Claims expenses for the period was N25.3 billion. The firm was followed by Leadway Insurance with … AIICO Insurance Customer care. Furthermore, the international scale claims paying ability of “B” assigned to AIICO Insurance Plc is also placed under review. The disclosure is contained in a press statement, signed by the firm’s Head of strategic marketing and communications, Segun Olalandu and sent to Nairametrics. Life assurance and annuity ; General insurance and special risks; Pension management; … Nairametrics had earlier reported the launch of AIICO’s N3.5 billion rights issue, part of which, 4,357,770,954 ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, was offered on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held. I have read and agree to the terms & conditions. AIICO Insurance Plc said it paid a total of N1.7 billion claims within the first 21 days of the COVID-19 lockdown in two states and the FCT that was announced by President Muhammadu Buhari last month. Log In. In lieu of this, the firm recorded about 126% subscription. AIICO INSURANCE PLC ... figure for outstanding claims in respect of claims incurred but not reported at the end of the year under review; Sections 21 (1a) and 22 (1b) require maintenance of contingency reserves for general and life businesses respectively at specified rates as set out under Note 3.25 to cover fluctuations in securities and variation in statistical estimates; Section … In 2014, AIICO’s paid out N10.5billion; and it has since continued to rise from N13billion in 2015 to N14.6billion in 2016, N23.3billion in 2017 and N29.1billion in 2018. The ratings are valid until October 2021. 5. Making the pledge during a breakfast meeting with the new executives of the National Association of Insurance and Pension Correspondents (NAIPCO) in Ikeja, Lagos, at the weekend, the Divisional Head, Shared Services, Mr. Olusanjo Shodimu, said the Insurance … Your email address will not be published. uLesson has announced that it has closed a $7.5M Series A round. AIICO Insurance Plc., is the leading life insurer in Nigeria. About See All. Lagos Isolo 7, Factory Road 203/205, Apapa-Oshodi Expressway Aba, Abia State Isolo, Lagos Tel: +234 805 531 4351 Tel: +234 802 305 4803; +234 805 717 6063 9. According to the News Agency of Nigeria, the disclosure was made by the FMDQ Group in a corporate statement issued, sequel to the fulfilment of all regulatory requirements. READ: Niger Insurance Plc posts N311.43 million loss in Q2 2020. The rating is valid until October 2021. Nairametrics also gathered that shares allotted will be credited immediately to the CSCS accounts of allottees by the Registrars to the issue. We specialize in minimum coverage car insurance, but offer other plans too. AIICO provide life insurance and retirement services as well as risk underwriting to a substantial and diversified client base, which includes corporations, financial institutions, governments and individuals in Nigeria. The statement said upon approval by the shareholders at the court-ordered meeting, which will be held at 12:00 pm on Thursday, 18 February 2021 at Radisson Blu Hotel, the subjoined resolutions of the Scheme Merger shall be effected. The rating are valid until October 2021. See details below. NEWS. The disclosure is contained in a press statement, signed by the firm’s Head of strategic marketing and communications, Segun Olalandu and sent to Nairametrics. AIICO Insurance Plc is a leading Insurance Company. AIICO Insurance plc has paid claims totaling N2.44 billion within the first eight months of 2011 as against N1.4 billion claims paid during the same period in … This funding round was led by US-based Owl Ventures, which is focused on education as an investment. You can file for a claim through AIICO insurance online claim form. GCR continues to monitor the ever-evolving situation surrounding the COVID-19 pandemic. The Negative Outlook reflects GCR’s concerns that renewed COVID-19 related disruptions will place further pressures on Murray & Roberts Holdings Limited’s (“M&R” or “the group”) cash flows and thus gearing metrics. Aiico Insurance PLC Recruitment…Aiico Insurance PLC, This article will guide you on how to apply for Aiico Insurance PLC Recruitment without much stress, in this article, the requirements that you need as well as the qualifications have been outlined in details. uLesson, a Nigerian educational learning platform that leverages best in class teachers, media, and technology solutions to create high-quality, affordable and accessible education for African students, announced that it has closed a $7.5M Series A round. AIICO Insurance Plc has promised to continue to pursue its commitment to deepen insurance penetration, education and awareness in the country. Insurance claims as a percentage of Net Premium in the same period hit 72% in 2020 compared to 61% in the same period in 2019. aiico insurance plc consolidated & separate financial statements for the period ended march 31, 2016 The Managing Director & CEO, Mr. Babatunde Fajemirokun, said: READ: International Breweries Plc raises N165 billion, Rights Issue fully subscribed. home. Lagos Nigeria, 15 January 2021 — Global Credit Ratings has downgraded the national scale rating assigned to C&I Leasing Plc’s Series 1 Senior Secured Bonds from A-(NG) to BBB+(NG), with the outlook accorded as Negative. Global Credit Ratings (“GCR”) has accorded the above credit rating to C&I Leasing Plc’s Series 1 Senior Secured Bonds (“Series 1 ...Read More. AIICO Insurance Plc, a leading insurer in Nigeria has recorded a 126% subscription of its recently concluded rights issue, in what seems to be another giant leap forward in its recapitalization journey. In line with this, the Federal High Court ordered that a meeting of the holders of the fully paid ordinary shares of Portland Paints and Products Nigeria be convened and held for the purpose of considering and approving a Scheme of Merger between the concerned entities. The Heritage Insurance Company Tanzania Limited’s (“Heritage Tanzania”) national scale financial strength rating reflects its strong financial profile, supported by very strong capitalisation and liquidity, as well as moderately strong earnings. This is slightly (6%) more than N23.9 billion which the company paid out during the same period in 2018. GCR’s East Africa manager Sylvia Chahonyo recently moderated a discussion hosted by Invest Africa on political and ... GCR Ratings is very pleased to announce the acquisition of a 65% shareholding in West Africa Rating Agency S.A. (WARA), a Senegal domiciled and Francophone Africa focused Credit Rating Agency ... Country Risk Score Action GCR has lowered the public country risk score on the Republic of Zambia following the missed interest payment and announced suspension of debt service to external ... Summary 12 Nov 2020 - GCR Ratings (“GCR”) has published a Special Report on how we analyse legal entities within larger operating groups. The company in a statement to this effect said the above payment covered claims, benefits, loans, and maturity payments. AIICO Insurance Plc was established in 1963 with a large Life and Non-life business, and complimentary focus on Asset Management, Health and Pension. All employees and undertakings rights, powers and duties of a personal character, which could not generally be assigned or performed vicariously, of the Company shall be transferred to CAP. Forgot account? While the rating has recently expired, GCR expects to publicly release the … AIICO Insurance Plc has presented its scorecard detailing its performance within the first 21 days of COVID-19 lockdown. 1,107 people follow this . This type of issue gives existing shareholders securities called Rights. Or be allotted 1 ordinary share of N0.50 each in the share capital of CAP (credited as fully paid) in exchange for every 8 ordinary shares of N0.50 each held in Portland Paints. The report is valid until May 2021. AIICO Insurance Plc said it paid a total of N1.7 billion claims within the first 21 days of the COVID-19 lockdown in two states and the FCT that was announced by President Muhammadu Buhari last month. AIICO Insurance is a leading composite insurer in Nigeria with a record of accomplishment of serving its clients that dates back over 50 years. The company will hold it’s Annual General Meeting on Wednesday, 30th September 2020. 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