Historical Background
As the need for increase in safeguard of financial assets and other valuable property, came the wise idea of Mr. Johnson chukwu Emeka Ilubisi, the General Manager of African Alliance Company Plc. John Chukwuemaka Illubisi was a student of Accountancy in Institute of Management and Technology (IMT), Enugu, where he obtain his Higher National Diploma in Accountancy in 1971, he proceed his education at University of Nigeria Nsukka where he got his BLC Certificate. He traveled to United State of America in 1980 where he obtain his Master Degree in Kashidel University London, Mr. Johnson Ilubisi was saving with Reinsurance Company a Germany Owned Company, after his graduation, he got employed in the company as an Assistance Accountant, from then, he got a lot of experience in banking and insurance sector. He worked with the company for many years before he to continued the business in his own country Nigeria. In 1980, he came beck to Nigeria and established his own company known as African Alliance Insurance Company plc in partnership with Munich Reinsurance Company in Germany. The company African Alliance Issuance Company was formerly commissioned in Nigeria in 1987 as first indigenous life Insurance Company to carryout the business of life Assurance, the largest insurance company in Nigeria. Munish Reinsurance still retain a minority interest in the company and also provide technical support to the company on need basis.
Currently, African Insurance Company plc has a share holders fund without N10.27 billion. Their cross premium income and asset base stand at about N2.6billion and N14.9billion, respectively while claims paid about N1.9billion (figure as at 31st December, 2010Nnadited).
In 2005, African Alliance Insurance Company plc entered a joint venture with First Securities Discount House Limited (FSDH) to set up pension Alliance Limited (PAL) a Licensed Pension Fund Administrator and on the 17th of September, 2010, African Alliance Insurance Company Plc was listed on the floor of the Nigeria Stock Exchange.
MARKETING STRATEGY
A marketing strategy is a process or model to allow a company a organization to focus limited resource on the best opportunities to increase sales and thereby achieve a sustainable competitive advantage. Your marketing strategy is the way you make sure you are getting the maximum impact from your limited marketing budget and time. Example, of there is a single influence who touches all your influence who touches all your customer and has a significant your customer and has a significant impact on the way these customers try to solve their problem, one of your strategy may be to focus on building a strong relationship with that influential individual or company.
A company strategy also indicate the choice its manager have made among alternative market competitive approach and way of operating. It is partly the result of trial and error organizational learning about what worked in the past and what did not and partly the product of managerial analysis and strategic thinking about all their circumstance sounding the company’s situation.
The strategies adopted by the company is what gives that the insight and ideas on how to win a comparative advantages over their composition in the market.