Leadway Starts Identity Verification for African Alliance Annuitants

Leadway Assurance Company has announced the start of a thorough verification exercise for all African Alliance annuitants following its successful acquisition of the African Alliance Insurance annuity portfolio.

In a statement released on Monday, the company said the validation process marks the first stage of the transition, aimed at accurately identifying all current annuitants and updating their records.

The acquisition of the annuity portfolio came after the National Insurance Commission (NAICOM) intervened and appointed an interim management team to address outstanding annuity payments.

Leadway noted that the takeover not only secures the immediate welfare of annuitants but also strengthens Nigeria’s insurance ecosystem. The verification exercise is intended to protect retirees’ benefits and ensure they are paid efficiently and on time. It also aligns with regulatory measures introduced by NAICOM to safeguard policyholders and boost confidence in the sector.

Through this exercise, retirees under the African Alliance portfolio can transition smoothly to Leadway, guaranteeing continuity of payments without disruption. Olufunmilayo Amanwa, Executive Director of Technical & Operations at Leadway Assurance, said, “The verification of annuitants is more than just a procedural step; it reflects our commitment to retirees. We aim to ensure that their contributions are honoured with financial security and dignity. This exercise lays the groundwork for timely benefit payments and reinforces the trust placed in us.”

African Alliance annuitants are encouraged to use Leadway’s customer support lines, email, or offices to complete their verification promptly and seamlessly.

Leadway Assurance is among Nigeria’s leading insurance firms, offering a wide array of financial protection services, including life insurance, general insurance, and other financial solutions.