The National Insurance Commission (NAICOM) has taken decisive action by dismissing the board and management of African Alliance Insurance Company. This move comes in response to concerns over delayed payments to annuitants and other policyholders.
The decision was announced by Commissioner for Insurance, Olusegun Omosehin, during a press briefing. The regulatory body has appointed an interim board and management team to oversee the company’s operations and prioritize the interests of policyholders.
NAICOM’s intervention underscores its commitment to ensuring the stability and integrity of the insurance sector. By taking this step, the commission aims to safeguard the rights of policyholders and restore confidence in the industry.
Follow us on our social media handle.
https://www.instagram.com/businessnewsng?igsh=ZXpweTdjOGF1ZXdu
