Business
Left – right: Akin Morakinyo (Registrar, Chartered Institute of Bankers of Nigeria), Segun Olalandu (Head, Marketing & Communication) and Ademola Adenekan (Communications Manager) both from AIICO Insurance Plc., and Ugodre Obi-Chukwu (Founder/CEO, Nairametrics Financial Advocates) during the Nairametrics Capital Market Awards
AIICO Insurance Plc says its emergence as the top performer at the 2026 Nairametrics Capital Market Awards reinforces its standing as one of Nigeria’s leading insurance companies.
The company, with more than six decades of operations, described the recognition as a reflection of its commitment to innovation, growth and customer satisfaction.
The News Agency of Nigeria (NAN) reports that AIICO was named Insurance Company of the Year 2026 at the Nairametrics Capital Market Awards held on Friday in Lagos.
In a statement issued on Sunday, the Head of Marketing and Communications, Mr Segun Olalandu, expressed delight at the company’s recognition.
Olalandu said the award category was designed to recognise excellence among insurance firms operating in Nigeria’s highly competitive market.
He noted that AIICO had consistently adapted its business model to changing market realities while maintaining strong performance and delivering value to customers.
According to him, the company’s ability to respond effectively to market dynamics has contributed significantly to its sustained growth and industry relevance.
Olalandu identified the unveiling of AIICO’s refreshed brand identity in December 2025 as a major milestone in its transformation journey.
He said the rebranding initiative was aimed at creating a modern and accessible brand that resonates with younger customers.
“The rebranding was aimed at creating a more contemporary and accessible brand that would appeal to younger customers while retaining the trust of its long-standing clientele,” he said.
Olalandu stated that the refreshed identity had gained considerable visibility across traditional and digital media platforms since its launch.
“The updated identity has since gained increased visibility across traditional and digital platforms, supporting the company’s broader strategy of strengthening market leadership and deepening customer engagement,” he said.
He noted that the recognition came at a period when the Nigerian insurance industry was experiencing increasing competition and rapidly changing customer expectations.
Olalandu also highlighted the impact of evolving regulatory requirements on industry operators, saying firms must continue to innovate to remain competitive.
“The recognition comes at a time when the Nigerian insurance sector is facing growing competition, evolving customer expectations and heightened regulatory requirements,” he said.
He added that AIICO’s performance across the award criteria demonstrated its capacity to combine growth with operational efficiency.
“AIICO’s performance across the award criteria underscores its ability to balance growth with operational efficiency while delivering value to stakeholders,” Olalandu said.
He described the latest honour as another important addition to the company’s growing portfolio of industry recognitions.
According to him, the award highlights AIICO’s commitment to innovation, operational excellence and sustained relevance within Nigeria’s evolving financial services landscape.
Meanwhile, organisers of the awards said the recognition was reserved for companies that demonstrated exceptional profitability, growth and shareholder value creation.
Nairametrics explained that winners were selected through a comprehensive evaluation framework covering key financial and operational indicators.
The organisers said the assessment considered profit-after-tax growth, gross premium growth, return on average equity, claims efficiency and market share expansion.
According to Nairametrics, each performance metric was carefully weighted to ensure an objective evaluation of financial strength and operational effectiveness.
The organisers noted that the methodology was designed to identify firms that consistently create value for shareholders while maintaining strong business fundamentals.
In its award citation, Nairametrics said AIICO’s recognition reflected not only strong financial performance but also disciplined strategic execution.
The organisers added that the company’s achievement demonstrated resilience, sound management practices and sustained competitiveness in a challenging operating environment. (NAN)
A.I
June 8, 2026
Tags: Ademola Adenekan AIICO Akin Morakinyo Segun Olalandu Ugodre Obi-Chukwu