17 May 2021
Nigeria’s AIICO Insurance Plc become the latest recipient of the IFoA Quality Assurance Scheme (QAS), in recognition of their commitment to providing quality assurance at an organisational level, promoting confidence in the work of their actuaries; and demonstrating their commitment to high-quality actuarial work and to supporting employees carrying out that work.
Established in 1963, AIICO Insurance Plc is a financial services group based in Lagos with market-leading positions in its key business lines; Insurance, Health Maintenance and Asset Management. AIICo is the latest African employer to be awarded the respected QAS accreditation, and the first to receive the accreditation in Nigeria.
QAS accredited its first members in April 2016 and approximately 15% of the IFoA’s global membership work with a QAS accredited organisation, giving a total of 44 accredited organisations worldwide.
We are delighted to receive this global accreditation from the Institute and Faculty of Actuaries (IFoA) after a rigorous review process. This is a noteworthy milestone for the company, Management and its staff, and, the Actuarial profession in West Africa especially Nigeria. Management of the company, with the support of its staff especially Actuarial and HR, are proud to have initiated the process for this accreditation that, in partnership with IFoA, requires actuarial work in the company (and the market) to be undertaken to a high quality that is comparable globally.
We hope that this accreditation will pave the way for key employers of actuaries in Nigeria and the region to follow suit. Nigeria (and the region by extension) has suffered a significant exodus of Actuarial talent, with a large number of Nigerian actuaries preferring to work outside the country. We hope with time that such accreditations in Nigeria and the region will help attract the significant Actuarial talent in the Diaspora as well as provide assurance to the upcoming actuaries that high-quality actuarial work, that is comparable globally, is available and can be delivered locally.
Wycliffe Obutu, Chief Actuary, AIICO Insurance Plc
We are delighted to receive this global accreditation from the Institute and Faculty of Actuaries (IFoA) after a rigorous review process. This is a noteworthy milestone for the company, Management and its staff, and, the Actuarial profession in West Africa especially Nigeria. Management of the company, with the support of its staff especially Actuarial and HR, are proud to have initiated the process for this accreditation that, in partnership with IFoA, requires actuarial work in the company (and the market) to be undertaken to a high quality that is comparable globally. Find out more about how your organisation can benefit from QAS accreditation
QAS is open to all employers of actuaries with a commitment to creating a working environment that supports actuarial excellence.
Find out more about how your organisation can become one of them