AIICO Insurance rejects media report on alleged breach of contract

AIICO Insurance Plc, one of Nigeria’s leading insurance firms, has refuted a news story by some online media that the company was dragged to court over a breach of contract.

A statement by the management of the Company described the story as an allegation, sensational and misleading, stating that, AIICO as a good corporate citizen is committed to fulfilling its contractual obligations to its customers at all times.

According to the statement, our attention has been drawn to a widely circulating story on some online media with the headline “Lagos lawyer drags AIICO Insurance Company to court over breach of contract,” which we find to be sensational and misleading. It is important to clarify that the headline implies that AIICO Insurance breached the contract with its client, whereas the reality is that the client failed to fulfill his contractual obligations to the letter which failure actually undermines the purport of this Insurance Contract.

“As a responsible corporate entity, we choose not to engage in any commentary regarding the ongoing legal case, allowing the legal proceedings to follow its due course. We firmly believe in the judicial system and its ability to determine the truth and dispense of the matter accordingly. Consequently, we refrain from making any public statements until the conclusion of the current judicial process, whereupon we will address the matter appropriately.

“We remain steadfast in upholding our commitment to transparency, integrity, and the principles of justice,” the statement added.