Insurance

Leadway Health Partners LASG, REPPLAW For Blood Donation Drive

Published

3 years ago

June 9, 2021

Nigeria’s fast-growing health insurance provider, Leadway Health in partnership with the Lagos State Blood Transfusion Service and REPPLAW Blood Donors Club, has announced its blood donation drive initiative to commemorate this year’s World Blood Donor Day.

The 2-day blood donation exercise is scheduled to take place on Tuesday, June 15 and Wednesday, June 16, 2021, at the Leadway Corporate Office in Surulere, Lagos, Nigeria.

The initiative is in alignment with the 2021 theme of 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, Dr. Tokunbo Alli, Chief Executive Officer, Leadway Health, stated that “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 percent 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 organizations, under which Leadway Health and other socially responsible organizations are primed and proud to respond and, most importantly, well-meaning individuals towards the wellbeing of every member of the society.

“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. We implore everyone especially the youth to embrace this humanitarian call to donate blood, inspire others to do the same and enhance communal solidarity”, he added.

Leadway Health is an innovative 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.

Leadway Health is an associated company with Leadway Assurance, one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability.

The organization is committed to providing innovative ways to equip every Nigerian with the tools needed to mitigate risks whilst adopting insurance as a top choice for wealth creation.

Up Next

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

Don't Miss

NAICOM Unveils Three-Years Strategic Reforms for Insurance Sector

Temitayo Olukoya

Comments

Insurance

Heirs Insurance Group Unveils Revolutionary Website for Seamless Insurance Experience

Published

3 weeks ago

March 27, 2024

Samed Olukoya

Heirs Insurance Group has launched a website designed to revolutionize the insurance experience for its customers.

With a focus on simplicity, accessibility, and personalized service, the new website aims to streamline the process of obtaining insurance coverage and empower customers to make informed decisions about their insurance needs.

The website boasts a range of innovative features that make navigating insurance options easier than ever before.

From simple and intuitive navigation menus to personalized insurance recommendations, the website is designed to guide customers through every step of the insurance process quickly and efficiently.

According to Ifesinachi Okpagu, the Chief Marketing Officer of Heirs Insurance Group, the new website embodies the company’s commitment to delivering exceptional customer service.

“Today’s customers want simplicity, and this new website delivers on that request,” Okpagu said. “We are empowering customers to take control of their lives, their businesses, assets, and their most cherished people.”

One of the key features of the website is its personalized insurance experience, which takes customers through a short journey to help them identify the best insurance plan for their needs.

Whether customers are looking for coverage for their home, car, business, or loved ones, the website provides tailored recommendations to ensure they find the right insurance solution quickly and easily.

With its user-friendly interface and innovative features, the new website from Heirs Insurance Group sets a new standard for the insurance industry, making it easier than ever for customers to protect what matters most to them.

Insurance

AIICO Insurance Boosts Infrastructure Development with 5% Stake in InfraCredit

Published

4 months ago

December 21, 2023

Investors King

AIICO Insurance Plc has acquired a five percent shareholding in Infrastructure Credit Guarantee Company Limited (InfraCredit).

This strategic investment positions AIICO as the second domestic institutional investor admitted by the infrastructure credit guarantee institution, following Leadway Assurance Plc.

The infusion of capital from AIICO is set to elevate InfraCredit’s paid-in capital base to an impressive $175.14 million (approximately NGN 148.55 billion), translating into an aggregate guarantee issuing capacity of up to NGN 742.77 billion (about USD 875.7 million).

This equity injection will become part of InfraCredit’s core capital, enhancing its guarantee issuing capacity and contributing to the sustenance of its coveted ‘AAA’ credit rating.

InfraCredit, known for deploying innovative credit enhancement solutions, has been pivotal in mobilizing private sector financing for infrastructure projects across various sectors of the Nigerian economy.

AIICO’s investment underscores its commitment to bridging the infrastructure gap in the country, marking the evolution of a long-term partnership with InfraCredit.

Babatunde Fajemirokun, the Chief Executive Officer of AIICO Insurance, emphasized the company’s dedication to supporting infrastructure development.

He stated, “This investment is the evolution of what we at AIICO Insurance believe will be a long-term partnership with InfraCredit. Over the past two years, AIICO Insurance has invested in InfraCredit guaranteed bonds and participated in novel financing arrangements promoted by the company to bring infrastructure investment to areas that have been significantly underserved.”

The Chairman of the InfraCredit Board of Directors, Sanjeev Gupta, welcomed AIICO as a new shareholder and highlighted the importance of fostering a strong partnership between the public and private sectors.

Gupta said, “AIICO’s investment is in line with our vision of creating a strong partnership between the public and private sectors. This partnership aims to attract private sector capital for infrastructure financing sustainably.”

Chinua Azubike, the CEO of InfraCredit, expressed enthusiasm about AIICO’s admission as the second private domestic institutional investor.

Azubike stated, “The admission of AIICO Insurance, the second private domestic institutional investor in InfraCredit, reinforces the confidence in the sustainability of InfraCredit’s unique business model.”

The AIICO Insurance equity investment is expected to further strengthen InfraCredit’s core capital base, expand its guarantee capacity, and facilitate deeper market penetration.

This collaboration aims to advance sustainable finance for impactful infrastructure projects in Nigeria, aligning with the nation’s broader goals for economic growth and development.

Insurance

Resilience Amid Challenges: Nigerian Insurance Giants Report 165% Surge in Profits

Published

5 months ago

November 22, 2023

Investors King

Against a backdrop of a challenging business environment and meager insurance penetration in Nigeria, thirteen leading insurance companies have displayed resilience by declaring a collective profit before tax (PBT) of N57.1 billion in the first nine months of 2023.

This signifies a 165% increase compared to the N21.51 billion reported during the same period in 2022.

The standout performers among these insurers include AXA Mansard Insurance, Cornerstone Insurance, and AIICO Insurance, which collectively contributed significantly to the sector’s stellar performance.

AXA Mansard Insurance, particularly, recorded a remarkable 471% increase in profit before tax, reaching N15.1 billion in the nine months ending September 30, 2023.

Notably, AXA Mansard Insurance stands out as the sector leader, declaring an interim dividend of 6 kobo per N2 ordinary share, payable to shareholders on December 15, 2023, showcasing a commitment to rewarding investors.

The remarkable financial performance of these insurers has had a tangible impact on the NGX Insurance Index, reflecting a 68.44% Year-to-Date growth as of November 17.

Analysts attribute this positive trajectory to the sector’s resilience and profitability.

However, the sector grapples with impending recapitalization efforts and the need for regulatory reforms. The proposed Consolidated Insurance Bill awaits presidential assent, promising transformative changes for the industry.

Analysts believe these changes, coupled with increased budgetary allocations from the Federal Government, will strengthen the sector’s capacity to contribute significantly to the nation’s GDP and employment creation.

As the industry anticipates legislative support, stakeholders remain hopeful for a new era of growth and global best practices in the Nigerian insurance landscape.