About Allianz Nigeria
Allianz Nigeria Insurance Ltd is a composite Insurance company licensed to transact Life and Non-Life Insurance business in Nigeria, delivering a range of retail products such as Motor, Life, Home Insurance and corporate products to more than 30,000 customers.
Incorporated in 1993 as Union Assurance Company plc, the company was relaunched as Ensure Insurance plc in 2016. It was acquired in 2018 by Allianz and rebranded as Allianz Nigeria Insurance Ltd. In 2017, the company generated gross written premiums of N7.67billion representing an 86% growth over 2016 (N4.19billion). In May 2018, Allianz Nigeria Insurance Ltd officially became a company of The Allianz Group.
Our primary objective is to deliver innovative insurance products that work for you, our customers.
Our Success Story
The Allianz Group is one of the world’s leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services to credit insurance and global business insurance.
Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to its systematic integration of ecological and social criteria in their business processes and investment decisions, Allianz holds the leading position for insurers in the Dow Jones Sustainability Index.
In the fiscal year of 2019, the Allianz Group achieved total revenues of approximately €142 billion (₦66 trillion) and an operating profit of €11.9 billion (₦5.5 trillion). With a solvency ratio of over 212%, Allianz is one of the most capitalized insurers worldwide. This is reflected in the strong ratings of “AA” rating from Standard & Poor’s, “Aa3” from Moody’s and “A+” from A.M. Best, the leading rating agencies globally.
With a Best Global Brands Ranking of 39th in 2020, Allianz posted a brand value of almost $13 billion. In addition, for the second consecutive year, Allianz has emerged as the top insurance brand in the world according to Interbrand’s Best Global Brands Ranking 2020.
In Africa, Allianz is currently present in 12 countries and accompanies clients in 49 countries. Its 2,908 employees achieved regional revenues of 663 million euros in 2019. Allianz also provides micro-insurance for 1.7 million low-income families and individuals in Africa.
PRODUCT OFFERINGS AT ALLIANZ NIGERIA INSURANCE LIMITED
Our Products Include:-
- Comprehensive Motor
Description: By-Law, all car owners are meant to have a Third Party Insurance that cover the other car driver from one’s mistakes on the road, but with the Comprehensive Motor Insurance, both own vehicle and that of the third party are covered with other added benefits.
Scope of Cover:
Fire or theft of the insured vehicle
Accident or damage of the insured vehicle
Damage of third party car or property
Vandalism of car
Liability to third party bodily injury or death
Fire damage or Theft of Vehicle: Estimated value of repair
Accidental damage to Vehicle: Estimated value of repair
Damage to third party Vehicle or property: 1 million naira (N1,000,000)
Liability to third party bodily injury or death: Unlimited but reasonable
- Individual Life (Savings, Education, Term Life, Whole Life, Endowment)
Description: The Individual Life Products also known as the Retail Business Products are those products that have been designed for individuals to cater for their protection needs, investment needs or a combination of both protection and investment needs.
These Products are designed to cater for the dependents/beneficiaries of the Policyholder on his/her demise which can be used for a variety of things such as the education of the children, sustenance of the family, completion of on-going projects etc. Also, for some of these products, if the Policyholder is alive at the maturity of the policy, they will also enjoy the proceeds.
These products also have riders (optional or compulsory) that help alleviate the financial burden associated with other perils. These riders include critical illness, permanent disability, funeral expenses and double accident, waiver of premium etc).
- Savings & Investment
Description: The Savings Plan Products are our flagship Investment Products which combine savings and a life protection plan.
With this plan the customer (the Life Assured) is able to gradually accumulate funds for future financial projects or goals and also the Education of the Children whether the customer is alive or not.
It also provides a Life Benefit (an agreed sum) and a Savings Account Balance upon death of the insured.
In addition to the death and maturity benefits, the products also offer additional riders (optional/compulsory) such as Critical Illness, Permanent Disability, Double Accident Benefit and Funeral Expenses.
- Fire & Burglary
Description: This product is designed to protect your home and business from material losses as a result of fire, explosion and lightning. This product also protects you against loss or damage to your property if your home or office is broken into.
We replace the contents, fixtures and fittings damaged in the course of burglary or housebreaking.
The policy offers protection for home owners, tenants, business owners (SME’s), shop owners and warehousing companies.
Burglary insurance can be bought independently or together as Combined Fire and Burglary CFB
Buildings: All buildings situated at insured premises
Contents: Stocks/ goods
- Professional Indemnity
Description: This is a form of protection for the insured against legal liabilities that may arise by reason of any neglect, error or omission committed in a professional capacity by the person insured or by any partner, director, person who may be in the insured’s employment.
The risk of losing a professional license is minimized in the event of negligence of duty and the goodwill of the professional and company is protected.
This policy also offers protection should legal issues arise. In the event that the insured is dragged to court, Allianz would ensure that his interest is protected and legal defense costs paid on his behalf thereby ensuring there is no loss of revenue
Hospitals( doctors, nurses), engineers, construction companies, accounting firms, Law firms are the biggest beneficiaries of this product.
- Group Life Assurance
The Group Life Assurance Policy is a Term Assurance Policy designed to provide death benefits to a group of people who have a common interest such as employees of a Company or members of an Association, Club or Society.
The Pension Reform Act 2014 (As Amended) makes Group Life Assurance a compulsory form of Insurance for all employers of labour with at least 3 employees.
The compulsory Group Life is an annual death in service benefit scheme designed to pay lump sum benefits to dependents of employees who die during the validity of the policy. The benefit to be secured is at least three (3) times annual total emoluments.
Total emoluments is defined as the sum of all allowances enjoyed by the employees as stated on the pay slip.
The Group Life can also be taken by Associations, Clubs or Society as approved by the Life Office.
Allianz Nigeria Headquarters
95 Broad Street lagos Island,Lagos
Tel: 0800 255 4269
268 Herbert Macaulay Way, Yaba
Gacoun Plaza, 23 road, Festac Town (Opp. K Close)
75, Aminu Kano Crescent, Wuse 2, Abuja (3rd Floor)
Broking House – 1, Alhaji Jimoh Odutola Way, Dugbe
Ibadan, Oyo State
81 Trans – Amadi Industrial Layout, Port Harcourt
98b, New Lagos Road