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Allianz Nigeria Unveils COVID-19 Travel Protection Cover

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Allianz Nigeria Insurance Plc- Investorsking

Allianz Nigeria says it has introduced a COVID-19 travel protection cover to the Nigerian market.

The underwriter also said the National Insurance Commission had approved the new cover.

It said in a statement on Sunday that the introduction of the product followed the announcement of the Allianz Risk Barometer 2021results which was clearly dominated by the COVID-19 risks.

The risks were business interruption, COVID-19 pandemic and cyber incidents.

“All the risks are strongly interlinked, demonstrating the growing vulnerabilities of our highly globalised and connected world,” it stated.

Allianz Nigeria said it now offered traveling customers protection against emergency medical expenses associated with COVID-19 diagnosis while on a trip.

The travel plan also covered accommodation costs related to COVID-19 diagnosis during a trip.

Due to the effect of the COVID-19 pandemic, it stated, many countries had imposed mandatory quarantines, border closures, entry bans as well as restrictions for domestic travel as a means to curb the spread of the virus.

The underwriter said the introduction of vaccines had a direct impact on travel especially air travel as demand for travel gradually began to return to normalcy with airlines beginning to advertise summer travel.

The Chief Customer Officer, Allianz Nigeria, Tunji Oshiyoye, said, “Allianz Nigeria offers international travel insurance that meets the travel requirements of various embassies including Schengen member states.

“The plan covers emergency medical expenses & hospitalisation abroad, medical evacuation, emergency dental care, legal assistance, compensation for the delayed trip, or lost checked-in Baggage. Allianz also provides 24 hours travel assistance worldwide.”

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Leadway Health and Lagos Partner to Encourage Blood Donation

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Leadway Health, in partnership with the Lagos State Blood Transfusion Service and REPPLAW Blood Donors Club, has said it is set to launch its blood donation drive initiative to commemorate this year’s World Blood Donor Day.

It said in a statement on Sunday that the two-day blood donation exercise was scheduled to take place in June at the Leadway Corporate Office in Lagos.

Leadway said the initiative was in alignment with the 2021 theme of the World Blood Donor Day, ‘Give blood and keep the world beating’, to raise awareness of the critical need to provide safe blood through unpaid and voluntary blood donors to the nation’s healthcare system.

Speaking on the collaboration, the Chief Executive Officer, Leadway Health, Dr Tokunbo Alli, said, “Research by the World Health Organisation on the impact of COVID-19 pandemic on blood supply and demand in the WHO African region posits that the number of blood donations has dropped in 32 countries.

“Nigeria has recorded a 37.8 per cent decrease in blood donations between June 2019 and June 2020.

“This sad reality calls for an immediate response from the government, national health authorities, corporate organisations, under which Leadway Health and other socially responsible organisations are primed and proud to respond and, most importantly, well-meaning individuals towards the wellbeing of every member of the society.”

He added, “The need for blood is universal, but access to blood for all those who need it is not.

“With this collaboration, we are optimistic that unpaid and voluntary donors will come out in their numbers to donate blood, show care, and contribute to better health, which is a key driver for us at Leadway Health.”

He implored everyone, especially the youth, to embrace this humanitarian call to donate blood, inspire others to do the same and enhance communal solidarity.

Leadway Health is a health maintenance organisation that provides a new dimension to conventional health insurance, with affordable, flexible, and technology driven services to address the inaccessibility and unaffordability barrier faced by the average Nigerian, the statement said.

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PTAD Issues AIICO Certificate of Non-Indebtedness

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AIICO Insurance -Investors King

The Pension Transitional Arrangement Directorate has issued a Certificate of Non-Indebtedness to AIICO Insurance Plc.

PTAD said that the move cleared the underwriter from any claim of non-remittance of pension assets.

In a statement on Sunday titled ‘PTAD issues AIICO Certificate of Non-Indebtedness’, it said this was disclosed at a meeting held to formally hand over redeemed properties ceded by the company in 2017 in lieu of legacy funds and assets to PTAD.

The process was subsequent upon confirmation of receipt of the full payment from AIICO and completing all reconciliation activities, it stated.

The Executive Secretary, PTAD, Dr Chioma Ejikeme, who was represented by Godwin Iheabunike said, “In acknowledgment of the payments made by AIICO Insurance Plc, PTAD has issued a Certificate of Non-Indebtedness to AIICO Insurance Plc and will update relevant institutions of this development in due course.”

She added, “We thank AIICO Insurance Plc for its commitment towards the liquidation of this liability within the shortest period of time.

“My congratulations go to the managing director/chief executive officer and his team for this uncommon accomplishment.

“I call on other insurance underwriters holding on to legacy funds and assets to do the needful as a matter of urgency. This will enable the directorate to meet its obligation to pensioners.”

In his remarks, the Managing Director/Chief Executive Officer, AIICO Insurance Plc, Mr Babatunde Fajemirokun, expressed appreciation to the PTAD leadership and team for working with the AIICO team through the detailed reconciliation for final closure.

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Prestige Assurance Grows Gross Written Premium to N7.01 Billion in 2020

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Prestige Assurance - Investors King

Prestige Assurance Plc, a leading insurance company in Nigeria, grew gross written premium from N6.13 billion recorded in 2019 to N7.01 billion in 2020.

Sarbeswar Sahoo, the Managing Director, Prestige Assurance, stated this in the company’s annual general meeting in Lagos.

He explained despite the tough business environment in the country, Prestige Assurance was able to post solid growth.

According to Sahoo, the company’s net premium income increased to N3.48 billion, up from N3.21 billion posted in 2019.

Shoos said, “Although the world is still battling with the pandemic and its effects on various sectors commendable, many businesses are cautiously optimistic of a more stable environment.

“Despite the challenging economic terrain, we were able to grow premium incomes and recorded strong profitability in the year.

“We remain committed to supporting customers with the right risk management solutions to ensure that businesses are well protected during and beyond this unstable period.”

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