African Alliance Insurance

African Alliance is a foremost life insurance company, incorporated on May 6, 1960, and founded by the inimitable duo, of Chief S.L Edu and Mr. Talabi Braithwaite, who were widely regarded as the first chartered insurance practitioners in Nigeria. Munich Re was a coowner and technical partner. Their vision was simple: to be the most preferred life insurance company of choice. To achieve these, the firm set out to make the customers its primary focus, that would create a lasting legacy for themselves in the lives of Nigerians. Building a lasting legacy means having a string of innovations under your belt. African Alliance is notably famous amongst others for being the first life insurance firm to introduce Takaful; an Islamic compliant insurance scheme in Nigeria. This feat was achieved under the leadership of the then CEO, Mr. Ope Oredugba in 2002, who had, in the wake of the introduction of the Sharia law in parts of the north, felt there was a niche in that line of insurance that could appeal to the region. The impact of Takaful in Nigeria was so great that less than six months after its formal launch, the company was being inundated with requests from within and outside the African continent by those seeking to benefit from the products. Today, Takaful has grown into one of the most viable business lines in AAI so much that it has easily warmed its way into the hearts of non-Muslims alike. In the past 60 years, through consistent hard work of its managers, AAI has steadily grown to become among the top five life insurance companies in the country. From humble beginnings at 112 Broad Street, Marina, Lagos, it has expanded its operations to 18 branches nationwide and has a regional subsidiary, Ghana Life based in Accra. Its customer base has also grown with over fifty thousand (50,000) policyholders in its books.