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Aiico Insurance to ease pacing of fund commitments

The Lagos-based insurance company plans to reduce fund commitment activity in light of the covid-19 pandemic.

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Institution: Aiico Insurance
Headquarters: Lagos, Nigeria
AUM: 176.66 billion naira

Aiico Insurance is intending to slow its private equity fund commitments in light of the covid-19 outbreak, a contact at the insurer informed Private Equity International.

However, Aiico Insurance stated the firm remains keen on searching for first-time fund managers over the next 12 months, despite issues relating to the pandemic.

As illustrated below, the 176.66 billion naira ($460 million; €410 million) Lagos-based insurer has an appetite for venture capital funds in the Middle East/African region targeting sectors such as financial services, TMT and energy/oil & gas.

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