AIICO Insurance commits to sustainable growth of sector

By Rosemary Iwunze

AIICO Insurance Plc has received its shareholders’ nod for the issuance of bonus shares.

Accordingly, shareholders whose names appear on the register of members by November 23, 2021 will get a bonus of 12 shares for every nine shares held.

Addressing shareholders at the company’s annual general meeting in Lagos, Chairman of AIICO Insurance, Mr. Kundan Sainani, said that the issuance of the bonus shares cleared the path for the Company to meet up with new capital requirements from NAICOM, adding that it strengthens the company’s market position on its journey to being the dominant insurer in sub-Saharan Africa.

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Sainani stated: “Shareholders will recall that at about this same time last year, we were constrained to hold a virtual meeting by virtue of the then rampaging COVID–19. While we are doing so again today, it is our hope and desire that in the nearest future, we will be able to have a live and one-on-one meeting where shareholders will have the benefit of interacting with each other, Board and members of management.

 Until then, may we continue to apply all the safety protocols that will help us to remain safe in this fight against COVID.” During the interactive session, the shareholders applauded the company’s leadership on its contribution to society through its various Corporate Social Responsibility initiatives and interventions. Its focus on its recapitalization efforts also received a commendation for completing its private placement and rights issue.

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