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AIICO INSURANCE PLC Company Profile

AIICO INSURANCE PLC

AIICO Insurance Plc (NSE Ticker: “AIICO”) is an insurance, pensions management, and asset management Group in Nigeria, established in 1963, with market-leading positions in its key business lines:

  1. Life assurance and annuity

  2. General insurance and special risks

  3. Pension management

  4.  Health insurance and

  5.  Asset management  

AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The Company was incorporated, registered, and licensed in Nigeria as American Life Insurance Company Limited – as a wholly-owned subsidiary of ALICO/AIG – in 1970 – to offer Life and Pension products and insurance services. The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG divested. 

Following the insurance industry's consolidation in 2007, the Company acquired NFI Insurance plc and Lamda Insurance Company Limited (both cumulatively accounting for less than 30% of AIICO's pre-acquisition gross premiums). The Company subsequently re-certified as both a General Insurance and Life Assurance Company – taking advantage of its legacy, brand, franchise, and strong retail distribution network to grow a leading General Insurance business.

As an insurance company, AIICO's goal is to be the insurer of choice and the leading insurance company in Nigeria – providing 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.

AIICO is the market leader in the life insurance and retirement services and is a market leader (top 3) in Non-Life insurance in Nigeria. The core insurance franchise is complemented by our leading insurance asset management, pension, and health management businesses. Overall, AIICO is currently the 2nd largest insurance company in Nigeria (by gross premiums).

To take advantage of the opportunities presented by the Pension Reform Act of 2004, AIICO Pension Managers Limited (“APML”) was incorporated in February 2005 and licensed in April 2006 as a Pension Fund Administrator (“PFA”) by the National Pension Commission (“PenCom”), and commenced operations in May 2006.

AIICO also owns valuable financial and strategic assets including a controlling stake in Multishield Limited, and a 19% stake in Healthcare International Limited (both healthcare management organizations (“HMOs”)), and AIICO Capital Limited (an asset management wholly-owned subsidiary).

Oba Akran Ave, Oba Akran, Ikeja

Telephone: 01 2792930, 0700 AIIContact (0700 2442 6682 28)

E-mail: [email protected]

1 Aba    
7 Factory Road, Aba, Abia State.

Tel: 08055314351

2    Abuja    
Prime Plaza: Plot 1012, Ademola Adetokunbo Crescent, Opposite Rockview Hotel, Wuse II, Wuse, FCT Abuja.

Tel: 08099930094, 08034644826

3    Akure    
Tisco House, 3rd Floor, Opposite Mr. Biggs Outlet, Ado-Owo Road, Akure, Ondo State.

Tel: 0806442259, 08177323757

4    Amuwo    
Plot 203 Festac Link Road, Amuwo Odofin, Lagos State.

Tel: 09090218724

5    Anthony    
306, Ikorodu Road, Anthony Lagos State

6    Benin    
28 Sokponba Road, Benin City, Edo State.

Tel: 08023580609, 08051163395, 08134051972

7    Enugu    
55/59 Chime Avenue, Gbujas Plaza, New Haven, Enugu State.

Tel: 0806 371 5549

8    Ibadan    
12 Moshood Abiola Way, beside FCMB Bank, Challenge Area, Ibadan, Oyo State.

Tel: 0803 574 1519, 0802 365 8317, 0802 728 9318

9    Ikeja    
AIICO House, Plot 2, Oba Akran Avenue Opp. Dunlop Ikeja Lagos.

Tel: 09074901016, 0909 220 5084, 08038264806

10    Ilorin    
1 New Yidi Road, Gomola Building, Ilorin, Kwara State.

Tel: 0817 022 3528

11    Ilupeju    
AIICO House, 36-38 Ilupeju Industrial Avenue, Ilupeju, Lagos State.

Tel: 08160466239, 08033158714, 08033343036

12    Isolo    
203/205 Oshodi/Apapa Expressway, Isolo, Lagos State.

Tel:08057176063, 08023054803, 08036803169, 08023090069

13    Jos    
4 Beach Road, Jos, Plateau State.

Tel: 08033282241, 08035951258, 08025474092

14    Kaduna    
Yaman Phone House, 1 Constitution Road, Opposite MTD, Kaduna, Kaduna State

Tel: 08033386968

15    Kano    
8, Post Office Road, Kano, Kano State.

Tel: 0806 221 0939

16    Lekki    
Gamet Plaza Lekki Ajah Express Way Agungi Lekki Lagos State

17    Onitsha    
Noclink Plaza, 41 New Market Road, Opposite UBA Bank, Onitsha, Anambra State.

Tel: 0803 375 0361

18    Owerri    
46 Wetheral Road, Owerri, Imo State.

Tel: 08053305511

19    Port Harcourt    
11 Ezimgbu Link Road (Mummy B Road), off Stadium Road, GRA Phase IV, Port Harcourt, Rivers State.

Tel: 0803 549 0546, 0909 448 9393, 08035531989

20    Uyo    
164, Ikot Ekpene Ekpene Road Uyo Akwa Ibom State

21    Warri    
11 Ezimgbu Link Road (Mummy B Road), off Stadium Road, GRA Phase IV, Port Harcourt, Rivers State.

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