African Alliance Insurance Plc was incorporated as a Private Limited Liability Company on May 6th 1960 and was the first Indigenous Insurance to carry out the business of Life Assurance in Nigeria.
The Company was originally set up in partnership with Munich Reinsurance Company of Germany, the la... read morergest Reinsurance Company in the world. Munich - Re still provides technical support to the Company on a need basis.
In 2005, African Alliance became the first licensed Takaful (Islamic Insurance) Operator in Nigeria - a concept borne of the desire to satisfy the needs of the Muslim Ummah in Nigeria through a robust selection of Sharia - compliant insurance and investment products based on the concepts of "Al-Mudarabah” and "Al-Tabarru”.
Also in 2005 African Alliance Insurance (then still a Limited Liability Company) in a Joint Venture with First Securities Discount House Limited ("FSDH”) set up Pensions Alliance Limited ("PAL”), a licensed Pension Fund Administrator.
In 2009, African Alliance was listed on the Nigerian Stock Exchange; thus becoming known as African Alliance Insurance Plc.
