The shareholders of AIICO Insurance Plc have approved the management plan to issue free shares.
This is part of the resolutions passed unanimously at the company’s 51st annual general meeting held in Lagos at the Marriott hotel in Ikeja.
The meeting was held in accordance with state and federal government COVID-19 guidelines, with shareholders in attendance elected by proxies to represent their interests.
The AGM was also broadcast live for the benefit of all stakeholders.
AIICO Insurance Chairman Mr. Kundan Sainani said in his welcoming speech: “Shareholders will recall that around the same time last year, we were forced to hold a virtual meeting due to of the COVID-19 crisis. As we do it again today, we hope and wish that in the near future we can have a live, one-on-one meeting where shareholders will have the benefit of interacting with each other. , the board of directors and the members of Management. Until then, may we continue to apply all the security protocols that will help us stay safe in this fight against COVID. ” He added.
During the event, shareholders voted on several resolutions relating to corporate governance in the organization as well as some special matters.
Shareholders approved the bonus of 12 shares for nine shares already held by members whose names appear on the membership register at the close of business on November 23, 2021.
In addition, other resolutions presented to shareholders were unanimously approved with the issuance of the bonus paving the way for the Company to meet NAICOM’s new capital requirements.
This strengthens the Company’s position in the market on its journey to become the dominant insurer in sub-Saharan Africa.
During the interactive session, shareholders applauded the leadership of the Company for its outstanding contribution to society through its various initiatives and interventions in the area of corporate social responsibility. The focus on its recapitalization efforts also received a commendation for completing its private placement and rights issue.
AIICO Insurance is a leading composite insurer in Nigeria, serving clients for over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension management services to build and protect the wealth of individuals, families and businesses.
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