NAICOM Dissolves Board, Management Of African Alliance Insurance …C0NTINUE READING HERE >>>
The National Insurance Commission (NAICOM) has dissolved the Board and management of African Alliance Insurance Plc, one of Nigeria’s oldest life assurance companies, citing prolonged insolvency and failure to meet financial obligations to policyholders and annuitants.
This regulatory action, effective from Wednesday, hands over control of the company to NAICOM.
NAICOM, the primary regulatory authority for the insurance sector, explained that the decision follows years of African…
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