Press Release

NOTIFICATION OF DELAY IN THE RELEASE OF AFRICAN ALLIANCE INSURANCE PLC AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017

African Alliance Insurance Plc wishes to notify its esteemed shareholders and other stakeholders that the Company's audited financial statements for the year ended 31st December 2017 could not be filled within the Nigerian Stock Exchange filing timeline of 31st March 2018.

This delay was occassioned by the fact that one of the Company's offshore major subsidiary is yet to obtain approval of its financial statements from its regulators without which the group consolidated accounts cannot be completed.

The Company is working assiduously towards completing and submitting the audited Financial Statements and is hopeful to do so on or before 31st May, 2018.

Thank you.