Contract breach: Court strikes out lawyer’s suit against insurance firm - Punch Newspapers

A Federal High Court in Lagos on Wednesday struck out a suit filed by a lawyer, Abdullai Dania, against AIICO Insurance over alleged breach

However, the plaintiff wrote a complaint letter to the Commissioner of , reporting the refusal of the defendant to pay him his premium.

But in a counter affidavit filed before the court, the company denied most of the plaintiff’s claims, stating that the claimant took out a bi-annual endowment insurance policy in 2007 with policy number 12028081. The policy was for a period of 15 and matured in April 2022. It stated that under the policy, the claimant was at liberty to make a 25 per cent partial withdrawal after five years, 25 per cent partial withdrawal after 10 years and a full withdrawal of N10m including a three per cent reversionary bonus at maturity I.e. in 15 years.

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