Leadway Assurance Company Limited has officially launched a comprehensive verification exercise for all African Alliance Annuitants, following the successful takeover of the African Alliance.
This essential validation process marks the initial phase of the transition, aimed at accurately identifying all existing annuitants and updating their records. The main goal of this exercise is to protect the immediate welfare of retirees and guarantee that their benefits are secured for efficient and timely payments.
The verification initiative is a direct response to the regulatory measures implemented by the National Insurance Commission (NAICOM) to safeguard policyholders and bolster confidence within the sector. By participating in this process, retirees with benefits under the African Alliance portfolio can transition smoothly to the Leadway brand, ensuring uninterrupted payment of their benefits.
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.
