Leadway Assurance Company Limited has officially 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.
