Kindly leave a comment and share

Chuks Udo Okonta

The National Insurance Commission (NAICOM) is working on selling major assets of African Alliance Insurance Plc to generate funds which would be deployed to ceding of the firm’s annuity business.

The Commissioner for Insurance Olusegun Omosehin, who disclosed this at an event in Abeokuta, Ogun State, submitted that NAICOM is working at selling some of the insurance company’s assets, to generate funds for onward transfer of the annuity business to a more stable insurance company.

He submitted that the move would ensure adequate protection of annuitants.

The CFI noted that NAICOM would also blacklist all former directors of the company, stressing that they wouldn’t be allowed into the company and any other insurance company.

He commended the board and management of the company for ensuring that all outstanding annuity payments were settled.

Moreover, an annuitant told Inspenonline that the month of September 2025 pension benefits has been paid.