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.
MTN Nigeria Communications Plc has appointed five new directors to its board as part of efforts to strengthen its operations and support the company’s growth and strategic direction.
The appointees include former Etisalat Nigeria executives, Ibrahim Dikko and Boye Olusanya, who were appointed as independent non-executive directors to the board of the telecommunication company.
The telco giant also appointed corporate governance expert Fabian Ajogwu, Imoni Akpofure and Lwazi Bam as non-executive directors.
The appointments, which take effect from 1 December were disclosed in a regulatory filing signed by the company’s secretary, Uto Ukpanah, on Tuesday.
MTN Nigeria said the new directors were expected to bring their experience and expertise to strengthen the telco giant’s operations.
“The new Directors are expected to bring their wealth of experience and expertise to enhance Board operations and contribute to the Company’s growth and future direction,” MTN Nigeria said.
Profiles
Mr Dikko brings more than three decades of experience spanning banking, telecommunications, information and communications technology, and regulatory advisory.
He served as chairman of First Securities Discount House Limited from 2002 to 2012 and was vice president of regulatory and corporate affairs at EMTS Limited, which operated as Etisalat Nigeria, from 2007 to 2017.
He holds a Bachelor of Laws degree from the University of Buckingham and a Master of Laws degree from Queen Mary and Westfield College, and University of London.
Mr Dikko is a Fellow of the Society of Corporate Governance Nigeria and a Member of the Institute of Directors, Nigeria.
Boye Olusanya
Mr Olusanya, who currently leads FMN Holdings Limited, has more than 25 years of executive leadership experience across the fast-moving consumer goods, agriculture, telecommunications, technology, energy, infrastructure and financial services sectors.
He has led the strategic transformation of FMN Holdings into a vertically integrated, consumer-focused food and agro-industrial business.
MTN Nigeria said Mr Olusanya’s experience includes enterprise transformation, business restructuring, strategic acquisitions, operational turnaround and regional expansion.
Fabian Ajogwu
Mr Ajogwu is a Senior Advocate of Nigeria and professor of corporate governance at Lagos Business School. He is also the senior partner at KENNA LP and has practised law for 35 years.
He assisted the Securities and Exchange Commission in drafting Nigeria’s first Code of Corporate Governance and served on the Financial Reporting Council of Nigeria committee that worked on the National Code of Corporate Governance 2018.
Mr Ajogwu is also the founder of the Society for Corporate Governance Nigeria and has authored several books on corporate governance.
He holds a PhD in Law from the University of Aberdeen, an MBA from IESE Business School in Barcelona and law degrees from the University of Nigeria and the University of Lagos.
Imoni Akpofure
Ms Akpofure brings nearly three decades of experience in finance, infrastructure and sustainability, particularly across Sub-Saharan Africa.
Her career includes senior roles at the International Finance Corporation, CDC Group, now known as British International Investment, and KINA Advisory.
She currently serves on the boards of Africa50 and the Development Bank of Nigeria, where she brings experience in infrastructure investment, sustainable growth and corporate governance.
Lwazi Bam
Mr Bam joined MTN Group as group chief risk officer in June. Before joining the telecommunications group, he served as chief executive officer of Deloitte Africa and Deloitte Southern Africa from 2012 to 2022.
READ ALSO: Access Holdings’ nine-month profit jumps 6% to N474.2 billion
During his nearly three decades at Deloitte, he also served on the firm’s Global Executive Committee and advised organisations on mergers and acquisitions, strategy, governance and risk oversight.
Between 2022 and 2026, he served as a non-executive director on the boards of Standard Bank Group and Valterra Platinum. He currently serves on the boards of Woolworths Holdings Limited and ZEDA Limited.
Mr Bam is a chartered accountant in South Africa and completed the Advanced Management Programme at Harvard Business School.
MTN Nigeria, one of Africa’s largest providers of communications services, connects over 94 million people in communities across the country.
Launched in 2001, the telco operates in 19 markets in Africa and the Middle East, serving over 300 million people.
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