Business
Strong Growth, Profitability Drive AIICO’s 2026 Insurance Company of the Year Victory
BY NKECHI NAECHE-ESEZOBOR—AIICO Insurance Plc has been named Insurance Company of the Year 2026 at the Nairametrics Capital Market Awards, a recognition that underscores the company’s strong financial performance, sustained growth, and commitment to delivering value to shareholders.
The award, presented during the second edition of the Nairametrics Capital Market Awards, honours insurance companies that have demonstrated excellence across key performance indicators, including profitability, premium growth, return on equity, claims efficiency, and market share expansion.
According to Nairametrics, the selection process was guided by a comprehensive evaluation framework designed to assess financial strength, operational efficiency, and long-term value creation. AIICO emerged as the leading performer among its peers, reflecting its ability to maintain growth momentum while navigating an increasingly competitive operating environment.
The recognition highlights AIICO’s consistent execution of strategic initiatives aimed at strengthening its market position and enhancing customer value. With more than six decades of operations, the company has continued to adapt to evolving industry dynamics while maintaining a strong focus on innovation, operational excellence, and customer relevance.
A significant milestone in the company’s transformation journey was the unveiling of its refreshed brand identity in December 2025. The rebranding marked a strategic move to modernise AIICO’s image and strengthen its appeal among younger consumers, while reinforcing the trust and confidence it has built with existing customers over the years.
Since the launch of the new identity, AIICO has increased its visibility across traditional and digital channels, supporting broader efforts to deepen customer engagement and reinforce its leadership position within Nigeria’s insurance sector.
The award comes at a time when the industry is facing heightened competition, evolving customer expectations, and increased regulatory scrutiny. AIICO’s strong showing across the award’s assessment criteria demonstrates its ability to balance profitability with operational efficiency while delivering sustainable value to stakeholders.
Held on June 5, 2026, at the Civic Centre in Lagos, the Nairametrics Capital Market Awards brought together regulators, investors, policymakers, and corporate leaders to celebrate organisations contributing to the growth and development of Nigeria’s capital market ecosystem.
For AIICO, the latest recognition adds to a growing list of industry accolades and reinforces its reputation as one of Nigeria’s most resilient and forward-looking insurance institutions, committed to driving innovation and creating long-term value in the financial services sector.
The post Strong Growth, Profitability Drive AIICO’s 2026 Insurance Company of the Year Victory appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—More than 700 employees of AXA Mansard have participated in a nationwide awareness campaign aimed at combating child abuse and gender-based violence, reinforcing the company’s commitment to protecting vulnerable members of society.
The initiative, held across Lagos, Abuja and Port Harcourt, formed part of the 2026 AXA Week for Good, the company’s global employee volunteering programme under AXA Hearts in Action, which encourages staff to support social causes through community service.
This year’s campaign, themed “Being a Child Shouldn’t Be a Risk,” focused on raising awareness about the prevention, identification and reporting of domestic and sexual violence affecting children and women.
As part of the outreach, employee volunteers carried out door-to-door sensitisation, community engagement and educational activities designed to help residents recognise signs of abuse, encourage reporting and promote collective responsibility for protecting vulnerable groups.
Chief Executive Officer of AXA Mansard Health, Tope Adeniyi, said the campaign reflects the company’s belief that businesses have a responsibility to contribute to safer and more inclusive communities beyond providing insurance services.
According to him, the large turnout of employees demonstrates AXA Mansard’s culture of compassion and commitment to making a meaningful social impact, particularly in addressing issues that affect children and families.
Chief Marketing Officer of AXA Mansard, Adebola Surakat, said the initiative aligns with the company’s broader mission of promoting safety, dignity and wellbeing, adding that sustained advocacy is essential to tackling abuse and violence in society.
The week-long programme concluded with a commemorative walk across participating cities, while the company reaffirmed its commitment to supporting initiatives that address critical social challenges and create lasting value for communities across Nigeria.
The post Over 700 AXA Mansard Volunteers Join Fight Against Child Abuse appeared first on Business Today NG.
Business
Oyedele confirms Nigeria has drawn first $1.5 billion under $5 billion Abu Dhabi financing deal
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has confirmed that Nigeria has accessed the first $1.5 billion from its $5 billion financing arrangement with First Abu Dhabi Bank (FAB).
Mr Oyedele disclosed this while speaking to journalists after the Federal Executive Council (FEC) meeting in Abuja on Monday.
He said the financing facility, which had earlier received approval from the National Assembly, is intended to refinance expensive debt, fund infrastructure projects and support budget implementation.
“The approval for that loan went to the National Assembly, so everybody is aware of it. It’s for refinancing of expensive debts, financing of infrastructure, as well as budgets,” he said.
He added that, “So, we don’t want to start making press releases each time we do a drawdown. It is not different from any other loan.”
The minister’s comments provide the first official confirmation that the government has begun drawing on the financing package.
Last week, Bloomberg reported that Nigeria had accessed about $1.5 billion through a Total Return Swap with First Abu Dhabi Bank, marking the first utilisation of the broader $5 billion facility.
Mr Oyedele said the government deliberately structured the financing arrangement to allow funds to be accessed in tranches rather than all at once.
READ ALSO: FEC approves N215bn for CNG buses, $900 million agriculture financing – Minister
According to him, the approach is intended to reduce borrowing costs by ensuring Nigeria only pays interest on funds that have been drawn.
“The loan is meant to be a drawdown in tranches, and one of the advantages of that is, if you need $5 billion and you take everything at once, you start paying interest, even though you’re not spending all of it now. So, this has been structured in a way that makes us even more efficient in the cost of borrowing by taking what we need part time,” he explained.
Mr Oyedele said the phased approach forms part of the government’s broader debt management strategy aimed at lowering financing costs while meeting critical funding needs.
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