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Aiico insurance plc Nigeria. A complete guide.

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Aiico insurance plc nigera. A background history.

AIICO Insurance Plc is an insurance, asset management, and pensions management Group in Nigeria. The insurance company is currently among the major players in the market. Its key line lines of business include:

  • Life assurance and annuity
  • Pension management
  • General insurance and special risks
  • Asset management and
  • Health insurance.

In 1963, AIICO began business its in Nigeria – as an Agency office of American Life Insurance Company (ALICO). It was a supplementary of American International Group (AIG).

By 1970, the insurance Company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited (owned by the subsidiary of ALICO/AIG). The purpose of its establishment was to provide Life and Pension products, and some insurance services.


In 1990, the company was renamed to its current name: American International Insurance Company Limited (AIICO). This was after the Federal Government invested in the business – a 60% stake. It was possible because AIICO was listed on the Nigerian Stock Exchange (NSE). The NSE Ticker of this insurance company is “AIICO”. Later, the two major shareholders (AIG and the Federal Government of Nigeria) divest.

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Aiico pension. Everything you need to know about aiico pension managers limited

AIICO Insurance Plc keeps expanding its services. On February 2005, the AIICO Pension Managers Limited was founded. This was established to help clients manage their pensions well. The company got the license to operate as a Pension Fund Administrator (PFA) on April, 2006.

This segment of AIICO celebrates its 10 years anniversary in business in 2016. Joke Silva (Nollywood actress) was appointed the brand ambassador. The intention was to advertise the services and products of the company.

In December 31 2015, the company’s total asssets were N1,337,546,000 with shareholders funds of N1,275,178,000. As of September 2016, it had a record of over 200,000 registered customers. At this period, AIICO Insurance Plc had N60billions under management, in excess.

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Aiico insurance salary

AIICO rewards its employees well. On average, the average salaries are somewhere between N48,000 and N52,000. Trainings are offered by the company to help staff become more competent and earn more.

Aiico capital

This is another segment of the AIICO Group. AIICO Capital Limited is a leading secure investments management firm. The Nigerian investment firm offers services for more than 12,500 institutional and retail clients. These clients spread across different industries.

Aiico Capital is a multi-asset manager. It is duly licensed by the Securities and Exchange Commission (SEC). The main purpose of founding it is to provide portfolio and fund management services.

Few years ago, AIICO Capital’s assets under management has grown from N20billion in 2013 to over N100billion by 31 March 2019. It has delivered returns to customers in excess of portfolio benchmarks over the period.

The returns have been generated through risk-free instruments. Investments like the Treasury bills and Federal Government Bonds.

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Aiico insurance ikeja office address

Aiico Insurance Plc has offices in Lagos and across Nigeria. The address of its office in Ikeja is located in Oba Akram Avenue.


AIICO House,

Plot 2 Oba Akran Avenue,

Beside Berger Paint,


Lagos State.

Aiico travel insurance

Aiico travel insurance

Travelling has always been an exciting activity for most people. With the excitement travelling bring comes its responsibility for safety. Safety is essential. We all want a fun and memorable trip – with peace of mind.

AIICO came up with a good plan for lovers of adventures. The AIICO Insurance Plan will protect you. This plan is a partnership with AIG South Africa. It covers you against:

  • Evacuation
  • Emergency medical expenses
  • Repatriation on medical reasons
  • Repatriation of mortal remains – corpse.

Here is how this plan works:

This is a fact. Travel insurance is a compulsory requirement in all Schengen embassies like France, Germany, Iceland, Italy, Netherlands, Poland, Luxemburg, Finland, Belgium, Sweden, Denmark, Greece, Switzerland, Norway, Spain, Portugal, Czech republic, Slovakia, Slovenia, Lithuania, Latvia, Hungary, Estonia, Malta, and Austria.

The AIICO Travel Insurance Plan is recognized and accepted in all Schengen and Non Schengen embassies. It means, your safety is insured if you subscribe to this NB travelling plan.

The AIICO Travel Insurance Plan is for all – HNI’s, individuals, or corporate.

For more details about this plan and how to purchase, pleas visit:

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Aiico insurance recruitment

As a leading company in life insurance, AIICO Insurance is always searching for more smart brains. It recruits new staff annually to keep the good work going.

Are you young and smart? Would you like to build your career to the peak? AIICO is committed to the training of its staff. The insurance company grooms its employees to the world-class standard. There are more benefits for you when you jointhe AIICO Insurance workforce.

No matter your level of skill, you can find a job offer with the company. To search and apply for a job position at AIICO Insurance, please click this AIICO Insurance Recruitment page.

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Author Profile

John Aina Ajibola has a Masters degree as an engineer and has over 3 years of teaching and research experience. He is happiest when on a bike and is also interested in electric energy and computer Science.

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