• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Wednesday, September 3, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

AIICO Shareholders Endorse N20b Capital Shield

Nwanne Ikemefune by Nwanne Ikemefune
December 9, 2020
in Insurance
0 0
0
AIICO 50th AGM pic

AIICO 50th AGM: L-R, Mr. Ademola Adebisi, (non executive director), Mr. Babatunde Fajemirokun, MD/CEO, Mr. Donald Kanu (company secretary) and Mr Adewale Kadri, executive director, technical and head, corporate business.

0
SHARES
100
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

AIICO Insurance Plc, has sealed a deal with shareholders to raise its authorised share capital to N20b from N18b, two billion naira above the minimum requirement.

This was sealed at the virtual 50th annual general meeting held in Lagos in accordance with strict pandemic protocols; the new additional layer of capital of N2b will be raised by the existing shareholders.

The company’s board created additional four billion ordinary shares of 50 kobo each and the shareholders responded and approved the declaration of one bonus share for every eight ordinary shares held by existing shareholders as a December 28, 2020, to be paid from retained earnings, and one bonus share for every five ordinary share premium, to be taken by same existing shareholders, as specified for capital raised from retained earnings.

The board chairman, Mr. Kandan Sainani, profusely thanked the shareholders and assured them of board’s commitment to continue to steer the affairs of the company on the path of continuous and sustainable progress, irrespective of daunting macro-economic challenges.

A cross section of shareholders at the meeting in Lagos.

The managing director and chief executive officer, Mr. Babatunde Fajemirokun, also rendered the satisfactory progress the company has made in its recapitalisation journey having surpassed the December 31, 2020 expectations of the regulator.

With the first stage of recapitalisation accomplished, Fajemirokun placed the score sheet before the shareholders: “There are no doubts that we have made some giant strides along this path. Beyond just meeting the requirements we have positioned ourselves to take full advantage for value creation, both in the short and long term. AIICO will emerge stronger and with greater capacity to underwrite more risks.”

Previous Post

NDIC Exceptions Reverberate As Its Boss Leaves The Stage

Next Post

House Of Reps Confronts Insurance Recapitalisation With Motion

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool
Insurance

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
SanlamAllianz, Leadway Others Hold IMT 4.0 High
Insurance

SanlamAllianz, Leadway Others Hold IMT 4.0 High

August 30, 2025
CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline
Insurance

CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

August 27, 2025
Next Post
NAICOM Head office

House Of Reps Confronts Insurance Recapitalisation With Motion

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Preferred PenCom Logo

PenCom Raises Concern Over Lingering Sectoral Challenges, Uneven Development And Antidote Defying Imbalances in Pension Industry

September 3, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

September 1, 2025
SanlamAllianz, Leadway Others Hold IMT 4.0 High

SanlamAllianz, Leadway Others Hold IMT 4.0 High

August 30, 2025
PenOp

Jolted by Global Prevalence of Liver Disease PenOp Hosts Session on Damage, Prevention and Management

August 29, 2025
Preferred PenCom Logo

PenCom Expresses Concern Over Absence of Balanced Growth in Expansion of Micro Pension Plan

August 29, 2025
CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

August 27, 2025
West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

August 26, 2025
Buyer Power Grows Ahead of 2026 Reinsurance Renewals

Buyer Power Grows Ahead of 2026 Reinsurance Renewals

August 25, 2025
Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

August 25, 2025
ADVERTISEMENT

Recent News

Preferred PenCom Logo

PenCom Raises Concern Over Lingering Sectoral Challenges, Uneven Development And Antidote Defying Imbalances in Pension Industry

September 3, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

Fintechs Can Turn Challenges to Opportunities But Not Until They Upgrade Their Domain in Independent Silos To Connected Wallets – Economy Expert

September 1, 2025
SanlamAllianz, Leadway Others Hold IMT 4.0 High

SanlamAllianz, Leadway Others Hold IMT 4.0 High

August 30, 2025
PenOp

Jolted by Global Prevalence of Liver Disease PenOp Hosts Session on Damage, Prevention and Management

August 29, 2025
Preferred PenCom Logo

PenCom Expresses Concern Over Absence of Balanced Growth in Expansion of Micro Pension Plan

August 29, 2025
CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

CAC Pledges Smooth Transition For 12Month Insurance Industry Recapitalization Timeline

August 27, 2025
West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

West Africa Insurance Market Prepares For Climate Change Risks at Upcoming Nigeria WAICA 2025 Education Confab

August 26, 2025
Buyer Power Grows Ahead of 2026 Reinsurance Renewals

Buyer Power Grows Ahead of 2026 Reinsurance Renewals

August 25, 2025
Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

Financial Stability: Insurance Uniqueness Makes Contribution to Economy And Society Broad, Exceptional

August 25, 2025
IMT 4.0 Conference Secures NIA Chairman Speaking Participation

IMT 4.0 Conference Secures NIA Chairman Speaking Participation

August 22, 2025
NAICOM logo

NAICOM Launches Allcomers Enhanced Website For Transparency and Efficiency

August 21, 2025
NAICOM, Nigeria Police Swing Into Action Raid Suspects over Sale of Fake Motor Insurance Policies

NAICOM, Nigeria Police Swing Into Action Raid Suspects over Sale of Fake Motor Insurance Policies

August 20, 2025
NAICOM Driven Insurance Sector Reform Gets SEC Revolving Endorsement

NAICOM Driven Insurance Sector Reform Gets SEC Revolving Endorsement

August 19, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Preferred PenCom Logo

PenCom Raises Concern Over Lingering Sectoral Challenges, Uneven Development And Antidote Defying Imbalances in Pension Industry

September 3, 2025
Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

Leadway Group Nurtures 33 Young Talents to Transform Nigeria’s Tech Pool

September 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In